Gold prices climbed on Thursday, driven by escalating fears of a widening conflict in the Middle East, which bolstered demand for safe-haven assets. This trend offset concerns about the possibility of prolonged high interest rates in the United States.<\/p>\n\n\n\n
At 0429 GMT, spot gold rose by 0.6 percent to $2,374.97 per ounce, rebounding from its recent peak of $2,431.29 reached last Friday. Meanwhile, US gold futures edged up by 0.1 percent to $2,389.70.<\/p>\n\n\n\n
Kelvin Wong, chief market analyst for the Asia-Pacific region at OANDA, remarked, “The prevailing uptrend in gold is supported by significant uncertainty on the geopolitical front.”<\/p>\n\n\n\n
Israeli Prime Minister Benjamin Netanyahu’s statement asserting Israel’s autonomy in its defense decisions coincided with Western countries urging restraint in response to Iran’s recent attack over the weekend.<\/p>\n\n\n\n
The allure of gold as a safe haven tends to rise during periods of geopolitical instability. However, the attractiveness of holding gold diminishes when interest rates remain high, as it is a non-yielding asset.<\/p>\n\n\n\n
In other precious metals, silver also saw an uptick in spot transactions, rising by 0.6 percent to $28.38 per ounce. Platinum settled at $938.40, while palladium saw a modest increase of 0.2 percent to $1,027.82 per ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices climbed on Thursday, driven by escalating fears of a widening conflict in the Middle East, which bolstered demand for safe-haven assets. This trend offset concerns about the possibility of prolonged high interest rates in the United States. At 0429 GMT, spot gold rose by 0.6 percent to $2,374.97 per ounce, rebounding from its …<\/p>\n","protected":false},"author":9,"featured_media":94938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[7048,6885,7603,8790,8949,7375],"class_list":["post-100058","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-consumer-confidence","tag-fed","tag-gold-prices","tag-initial-jobless-claims","tag-pce-data","tag-pending-home-sales"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/100058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=100058"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/100058\/revisions"}],"predecessor-version":[{"id":100059,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/100058\/revisions\/100059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94938"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=100058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=100058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=100058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}