Gold prices climbed on Monday, lingering just below the previous session’s record high, driven by escalating tensions in the Middle East that bolstered demand for the precious metal as a safe haven.<\/p>\n\n\n\n
As of 0056 GMT, spot gold rose by 0.3 percent to $2,350.59 per ounce, following its historic peak of $2,431.29 per ounce on Friday.<\/p>\n\n\n\n
Meanwhile, US gold futures dipped by 0.3 percent to $2,366.40 per ounce.<\/p>\n\n\n\n
Iran’s direct attack on Israel heightened concerns among Israelis, fueling fears of a potential broader conflict.<\/p>\n\n\n\n
Recent US economic indicators, particularly on the labor market and inflation, have reignited expectations in the market that the Federal Reserve may consider interest rate cuts.<\/p>\n\n\n\n
However, higher interest rates typically diminish the allure of holding non-interest-bearing assets like gold.<\/p>\n\n\n\n
In the realm of other precious metals, silver edged up in spot transactions by 0.4 percent to $27.98 per ounce, while platinum dipped slightly by 0.1 percent to $973.05 per ounce. Palladium saw a decline of 1 percent to $1,038.99 per ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices climbed on Monday, lingering just below the previous session’s record high, driven by escalating tensions in the Middle East that bolstered demand for the precious metal as a safe haven. As of 0056 GMT, spot gold rose by 0.3 percent to $2,350.59 per ounce, following its historic peak of $2,431.29 per ounce on …<\/p>\n","protected":false},"author":9,"featured_media":99315,"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-99891","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\/99891","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=99891"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99891\/revisions"}],"predecessor-version":[{"id":99892,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99891\/revisions\/99892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/99315"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=99891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=99891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=99891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}