SINGAPORE (Aug 12): Amid the market volatility, investors are seeking refuge in safe-haven asset classes. Gold rallied above US$1,500 an ounce — the highest level since 2013, extending a 17% gain since the start of the year. Silver surged as well. “Turbulent geopolitical conditions along with shaky economic fundamentals have enacted sharp bearish pressures on risk assets while raising bullion appeal for the current term,” writes Phillip Futures analyst Benjamin Lu in his Aug 7 note.

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