Gold Gets Another Boost as U.S. Risks Strengthen Case for Havens

 -Bloomberg "Gold steadied after posting its longest rally in three months as investors weighed growing political tensions in the U.S., which reinforced demand for havens. Bullion, which has already benefited from central bank easing, slowing growth and the trade war, gained an additional support after an announcement that the U.S. House of Representatives is opening a formal impeachment inquiry of President Donald Trump. Gold is heading for a fifth monthly advance as the Federal Reserve and central banks globally cut interest rates to prop up economies hurt by the prolonged trade war. Weakening U.S. consumer confidence also dented sentiment. The possibility Trump will face impeachment is adding to the raft of concerns weighing on markets. 'The move in gold looks convincing enough to warrant some attention as it's unlikely the political storm clouds over Washington are about to dissipate any time soon,' Stephen Innes, Asia-Pacific market strategist at AxiTrader, said in a note. This 'might continue to weigh on equity market sentiment, possibly send U.S. yields lower and could undermine confidence in the U.S. dollar.'"