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Gold Holds Near Record as Mideast Escalation Stokes Haven Demand
Gold held an advance that put it close to an all-time high, with markets assessing the escalation of conflict in the Middle East as Israel pledged to retaliate against Iran’s missile strikes. Bullion traded above $2,660 an ounce after closing 1.1% higher Tuesday as Iran launched about 200 ballistic missiles at Israel. President Benjamin Netanyahu called the move a “big mistake” and vowed to make Iran “pay for it.” The US is actively supporting preparations to defend Israel, according to an earlier report. “The market does what it is supposed to do when news like that breaks,” said Ole Hansen, head of ... (full story)
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From dailyforex.com|Oct 2, 2024|1 commentThe price of gold has rebounded above $2,670 per ounce after two consecutive sessions of decline, as escalating geopolitical risks in the Middle East continue to bolster demand ...
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- Posted: Oct 2, 2024 5:21am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 160
