Gold price forecast: Gulf crisis and weak dollar set to boost precious metal
GOLD prices could surge in the coming days amid escalating tensions between Saudi and Qatar, experts have predicted.
By LANA CLEMENTS
Express.co.uk
Sat, Jun 24, 2017
Investors have flocked to the precious metal over the past week, as the Gulf Crisis sees the rifts between Middle East countries growing.
The weakened dollar has also heaped provide values with a lift.
Gold prices are now at around $1,256 but could easily hit $1,260 and move towards $1,290 seen at the start of June, according to forecasts.
It comes as Saudi Arabia and its allies have issued a list of demands to Qatar, which stipulate that Doha must cut ties with Iran ad close down a Turkish base among other requests.
It’s feared that a rejection by Qatar could further inflame the regional crisis.
Investors traditionally head for gold during times of political and market turmoil, with the metal considered a safe house for cash.
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