Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
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