Gold posts highest close since April 2013

Gold prices rose today, extending gains to more than 6-year high, due to the continued global markets' slowdown concerns in addition to increased haven demand on precious metals.

Investors shifted focus to precious metals and bonds markets on US recession concerns in addition to the ongoing US-China trade war.

Former US Federal Reserve Chairman, Alan Greenspan, said that there is no barrier for U.S. Treasury yields going below zero due to trade war concerns, while the global financial markets suffered heavy losses yesterday due to the inversion of the yield curve on US bonds.

Meanwhile, by 18:43 GMT, dollar index rose by 0.2% to 98.1 points, with a high of 98.2 and a low of 97.8.

Gold futures (December delivery) rose by 0.2% to $1531.2 an ounce, the highest close since April 11, 2013, with a high of $1537.7 and a low of $1518.3.