Gold prices rallied following significant purchases by China’s central bank, even though new conflicts in the Middle East threatened to shatter a precarious ceasefire. The yellow metal was trading close to $4,720 per ounce after closing the previous session slightly lower. The US attacked military targets there after Iran opened fire on three navy destroyers passing through the strait, The clashes heightened tensions as the United States seeks to end a war that is now in its third month and awaits Iran’s response to its proposal to reopen the Strait of Hormuz, a vital waterway for energy flows. There are indications ... (full story)