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Gold rises as Middle East conflict escalates, dollar rally pauses

From cnbc.com

Gold prices rose on Wednesday as the escalating conflict in the Middle East attracted safe‑haven bids, while a pause in the U.S. dollar’s rally also lent support. Spot gold was up 1.6% to $5,166.75 per ounce by 1412 GMT, after falling more ​than 4% on Tuesday. U.S. gold futures for April delivery added 1.1% to $5,177.60. “The dollar ​has seen a pullback, which is providing some support. Overall, the macro-fundamental factors ⁠remain broadly supportive of gold. Certainly, as long as the war with Iran ​is ongoing, that’s going to remain supportive as well,” said Peter Grant, vice president and senior ​metals strategist ... (full story)

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  • Category: Fundamental Analysis