{"id":97410,"date":"2024-02-22T12:48:00","date_gmt":"2024-02-22T08:48:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=97410"},"modified":"2024-02-22T12:48:02","modified_gmt":"2024-02-22T08:48:02","slug":"gold-rises-supported-by-the-decline-in-the-dollar-and-middle-east-tensions","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-rises-supported-by-the-decline-in-the-dollar-and-middle-east-tensions\/02\/22\/market-updates\/","title":{"rendered":"Gold rises supported by the decline in the dollar and Middle East tensions"},"content":{"rendered":"\n<p><strong>Gold Surges on Weak Dollar and Middle East Tensions<\/strong><\/p>\n\n\n\n<p>Gold prices surged on Thursday, bolstered by a weakened dollar and escalating tensions in the Middle East. Investors eagerly awaited more US economic data for insights into the Federal Reserve&#8217;s future interest rate decisions.<\/p>\n\n\n\n<p>At 0328 GMT, spot gold climbed 0.1 percent to $2,026.7 per ounce, marking its highest level since February 9. Similarly, US gold futures rose by 0.1 percent to $2,036.9 per ounce.<\/p>\n\n\n\n<p>The dollar index extended its losses for the fourth consecutive day, enhancing the allure of gold priced in US currency for international buyers.<\/p>\n\n\n\n<p>In the Middle East, Israel intensified its airstrikes on Rafah city in the southern Gaza Strip, resulting in the tragic loss of more than ten lives from a single family. The Ministry of Health in the embattled Palestinian territory reported a staggering death toll of 29,313 individuals amid the ongoing conflict.<\/p>\n\n\n\n<p>In addition to gold, other precious metals also experienced gains:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Platinum rose by 0.3 percent in spot transactions to $885.30 per ounce.<\/li><li>Palladium increased by 0.6 percent to $955.63.<\/li><li>Silver saw a modest uptick of 0.1 percent, reaching $22.89 per ounce.<\/li><\/ul>\n\n\n\n<p><strong>Key Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Gold prices surged on Thursday driven by a weak dollar and heightened tensions in the Middle East.<\/li><li>Investors awaited US economic data for clues on the Federal Reserve&#8217;s interest rate policies.<\/li><li>Spot gold reached $2,026.7 per ounce, marking its highest level since February 9.<\/li><li>US gold futures also rose to $2,036.9 per ounce.<\/li><li>Weakening dollar index increased the attractiveness of gold for international buyers.<\/li><li>Escalating conflicts in the Middle East added to gold&#8217;s appeal as a safe-haven asset.<\/li><li>Platinum, palladium, and silver also witnessed gains in spot transactions.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Gold Surges on Weak Dollar and Middle East Tensions Gold prices surged on Thursday, bolstered by a weakened dollar and escalating tensions in the Middle East. Investors eagerly awaited more US economic data for insights into the Federal Reserve&#8217;s future interest rate decisions. At 0328 GMT, spot gold climbed 0.1 percent to $2,026.7 per ounce, &hellip;<\/p>\n","protected":false},"author":9,"featured_media":94033,"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":[6885,7770,9278,9537],"class_list":["post-97410","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-fed","tag-fomc-minutes","tag-gold-price","tag-rate-policy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/97410","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=97410"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/97410\/revisions"}],"predecessor-version":[{"id":97411,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/97410\/revisions\/97411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94033"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=97410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=97410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=97410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}