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Expand chart

U.S. equities have been both resilient and rangebound following the killing of Iran Gen. Qasem Soleimani, but gold has seen a major boost, jumping to its highest level in close to seven years and continuing to climb.

The big picture: Even in the face of better-than-expected U.S. data released Tuesday morning, gold edged higher.

  • It then took another leg up after Iran retaliated against the U.S. by striking U.S.-Iraqi bases Tuesday night.

Details: Gold prices have gained nearly 4% in the nascent year and the commodity has been one of the best performing assets in the world.

  • Gold trails only returns for orange juice (yes, really), a gauge of energy infrastructure Master Limited Partnerships (MLPs), and the rebounding Chilean benchmark stock index, per FactSet data.
  • It has delivered about triple the return of the Nasdaq and more than quadruple the S&P 500.
  • Even crude oil (up 2.7% YTD), which also has gotten a price bump from the growing unease in the Middle East, has fallen well short of gold's gains so far in 2020.

Go deeper: Gold mining companies are shunning big projects despite rising prices

Go deeper

Acting Capitol Police chief: Phone logs show Jan. 6 National Guard approval was delayed

Pittman at a congressional tribute for fallen officer Brian Sicknick. Photo: Erin Schaff-Pool/Getty Images

Acting U.S. Capitol Police chief Yogananda Pittman testified on Thursday that cellphone records show former USCP chief Steven Sund requested National Guard support from the House sergeant-at-arms as early as 12:58pm on Jan. 6, but he did not receive approval until over an hour later.

Why it matters: Sund and former House sergeant-at-arms Paul Irving clashed at a Senate hearing on Tuesday over a dispute in the timeline for when Capitol Police requested the National Guard during the Capitol insurrection.

Manhattan prosecutors reportedly obtain millions of pages of Trump's tax records

Photo: Al Drago/Bloomberg via Getty Images

The Manhattan district attorney is now in possession of millions of pages of former President Trump's tax and financial records, CNN first reported, following a Supreme Court ruling that allowed prosecutors to enforce a subpoena after a lengthy legal battle.

Why it matters: Trump fought for years to keep his tax returns out of the public eye and away from prosecutors in New York, who are examining his business in a criminal investigation that was first sparked by hush-money payments made by Trump's former fixer Michael Cohen during the 2016 election.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

The digital dollar is now high priority for the Fed

Illustration: Aïda Amer/Axios

The U.S. is starting to get serious about a central-bank-backed digital currency, with recent comments from top officials laying out the strongest support yet.

Driving the news: On Tuesday Fed chair Jerome Powell told Congress that developing a digital dollar is a "high priority project for us," but added that there are "significant technical and policy questions."