|Day's Range||5.87 - 6.08|
On Tuesday, Nancy Pelosi, the speaker of the House of Representatives, formally ordered an investigation into President Trump’s impeachment.
The Fed slashed interest rates for the second time since the financial crisis by 25 bps to 1.75-2% in its policy meeting to sustain a decade-long economic expansion.
Gold has been benefiting from the US-China trade war. However, some observers, such as Jim Cramer and Citigroup, disagree on what's in store for gold.
UBS Global's Mark Haefele recently wrote in a note, "We believe that investors can keep their investment strategies on track for the long term."
Trade has played foul on Wall Street throughout August, sending the broad indices into a tailspin, thus compelling investors to flock to gold as a great store of value and hedge against market turmoil.
On Monday, Bloomberg reported that UBS Global Wealth Management turned underweight on equities for the first time since the Eurozone crisis.
Gold hit a fresh six-year high on Friday as trade tensions between the US and China escalated. The SPDR Gold Shares ETF (GLD) closed up 2%.