Investors flock to safe havens as Iraq violence builds

Laura Dew
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Investors are moving back towards safe haven assets such as gold as ongoing violence in Iraq hits markets.

Spot gold climbed to a three-week high of $1,282 an ounce, a 0.6% increase and the fifth day of gains as Iraqi insurgents seized control in parts of the country. The metal has risen 6.7% this year on tensions between Russia and Ukraine. Silver, palladium, and platinum also saw a rise, with silver reaching a one-month high of $19.8 last week. On Friday, Brent crude oil passed its previous high of $114 per barrel after Iraqi militants threatened to halt repairs to an oil pipeline. The Japanese yen, seen as a safe haven currency, is approaching a four-month high. However, Asian eq...

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