TOKYO -- Many in the market say gold is primed for a climb despite looming hikes in U.S. interest rates, betting that geopolitical risk trumps a chance for better yields.
Gold for February delivery traded in the lower half of the $1,180s per troy ounce early Friday in New York. Investors had on Tuesday bought the metal up to a roughly two-month high above $1,220, seeking shelter following the previous week's news that the U.K. will leave the single European market when exiting the European Union. But selling has predominated since, with a strong dollar and the Dow Jones Industrial Average's historic close above 20,000 apparently putting traders' minds at ease.
