Gold edges higher as Middle East tensions lift safe-haven appetite

Gold prices ticked up on Tuesday, hovering near record-high levels, as fears of escalating tensions in the Middle East drove investors towards the safe-haven metal.

Gold prices ticked up on Tuesday, hovering near record-high levels, as fears of escalating tensions in the drove investors towards the safe-haven metal.

FUNDAMENTALS

* Spot gold edged up 0.1% at $2,383.37 per ounce, as of 0103 GMT. Bullion hit an all-time high of 2,431.29 on Friday.

* gold futures rose 0.7% to $2,400.00 per ounce.

* Israelis awaited word on how Prime Minister would respond to Iran's first-ever direct attack on their country, as international pressure for restraint grew amid fears of an escalation of conflict in the Middle East.

* U.S. retail sales increased more than expected in March amid a surge in receipts at online retailers, further evidence that the economy ended the first quarter on solid ground.

* San Francisco Federal Reserve Bank President Mary Daly said there's no urgency to cut interest rates, with the economy and labor market strong, and inflation still above the 's 2% target.

* Higher interest rates reduce the appeal of holding non-yielding gold.

* U.S. economic growth is emerging as a key prop for an ongoing global expansion, but spillovers from persistently high inflation and tight monetary policy could pose new risks to an expected "soft landing" around the world.

* The will restart gold bar auctions after an 11-year suspension, amid efforts to increase supply of the precious metal to market.

* Spot silver fell 0.1% to $28.86 per ounce, platinum rose 0.8% to $969.70 and palladium lost 0.8% at $1,027.06.

Source: Commodities-Markets-Economic Times

Последние публикации
COP29 host urges collaboration as deal negotiations enter final stage
22.11.2024 - 10:00
Gold prices rise, set for strong weekly gains on Russia-Ukraine jitters
22.11.2024 - 08:00
Oil heads for weekly gains on anxiety over intensifying Ukraine war
22.11.2024 - 07:00
Oil rises as intensifying Ukraine war increases supply risk
22.11.2024 - 04:00
Oil prices rise, head for weekly gain on Russia-Ukraine tensions
22.11.2024 - 04:00
Exxon group pulls out of talks with Guyana over shallow water oil block, government says
21.11.2024 - 23:00
Exxon Mobil pulls out of talks with Guyana over shallow water oil block, gov says
21.11.2024 - 22:00
EU to cajole Trump on trade while readying tariff retaliation
21.11.2024 - 18:00
New York grid operator warns of undersupply in 2033
21.11.2024 - 18:00
Analysis-Trade demands clash with climate agenda at COP29 talks
21.11.2024 - 17:00
Crude and diesel prices gaining but rangebound: Citi
21.11.2024 - 16:00
Oil prices soars as Russia, Ukraine exchange missile strikes
21.11.2024 - 16:00
Oil up 2% after Russia-Ukraine missile exchange, outweighing US crude stock rises
21.11.2024 - 14:00
Nvidia sees past triple-digit growth
21.11.2024 - 13:00
Oil up on Russia-Ukraine missile exchange, outweighing US crude stock rises
21.11.2024 - 12:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?