Gold prices hit record highs near $2,300 as Taiwan quake dents risk appetite

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Gold prices hit record highs near $2,300 as Taiwan quake dents risk appetite Gold prices rose in Asian trade on Wednesday, remaining in sight of record highs amid increased safe haven demand after a devastating earthquake in Taiwan, while uncertainty over U.S. interest rates also boosted gold demand.

Risk appetite was dealt a fresh blow on Wednesday after an earthquake in Taiwan battered the island’s infrastructure and its top chipmaking factories, while also sparking Tsunami warnings in parts of Japan.expiring in June rose 1.1% to $2,306.25 an ounce and were just below lifetime highs of $2,308.85 an ounce by 00:47 ET .Increased safe haven demand helped gold prices largely power past increased concerns over higher for longer U.S. interest rates.


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