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Gold hits one-week high on Fed rate cut expectations, Middle East tensions in focus
Investors were also keeping a close eye on tensions in the Middle East after attacks on tankers there stoked U.S.-Iran tensions and raised concerns over supply flows through one of the world’s main sea lanes. Demand for gold often increases during times of political or economic uncertainty as it is widely viewed as a safe-haven asset. FUNDAMENTALS - Spot gold was up 0.1% at $1,342.69 as of 0104 GMT, after hitting its highest since June 7 at $1,344.94. - U.S. gold futures rose 0.3% to $1,347.20 an ounce. - The number of Americans filing applications for unemployment benefits unexpectedly rose last week, adding to ... (full story)
