Gold hits highest level in three months as traders worry about US inflation and bond market jitters – business live

Spot gold touches almost $4,700 an ounce and Bitcoin tops $80,000 while oil prices fall despite threat of heavy US sanctions on Iran and any country trading with it Ipek Ozkardeskaya , senior analyst at Swissquote, has sent us her thoughts on gold. Renewed appetite for gold despite elevated long-term US yields is striking and sends a clear message: investors are moving back to the precious metal as: A hedge against unclear US fiscal plans and the lack of conviction in the US administration’s capacity to rein in exploding debt when military expenses are adding to already heavy bills. A hedge ag