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

Останні публікації
Oil prices slip slightly lower; caution ahead of Trump inauguration
22.01.2025 - 09:00
Gold prices steady ahead of Trump inauguration; volatility likely
22.01.2025 - 09:00
European natural gas prices dip ahead of Trump's inauguration
22.01.2025 - 09:00
Column-Global aluminium market faces a year of trade turbulence: Andy Home
22.01.2025 - 09:00
Trump directs US government to cut consumer costs, gives no details
22.01.2025 - 09:00
Oil dips as market awaits Trump's executive orders on energy
22.01.2025 - 09:00
FBI Acting Director Paul Abbate retires from the bureau, official says
22.01.2025 - 09:00
Analysis-Trump faces stiff challenges delivering on his promised 'Golden Age'
22.01.2025 - 09:00
Trump revokes Biden 50% EV target, freezes unspent charging funds
22.01.2025 - 09:00
Trump repeals Biden's efforts to block oil drilling on US coasts, Arctic
22.01.2025 - 09:00
Gold prices shine on safe-haven demand as traders try to gauge Trump's policies
22.01.2025 - 09:00
Texas ports, pilots suspend some operations as winter storm hits
22.01.2025 - 09:00
European gas prices volatile as Trump lifts moratorium on new export licenses
22.01.2025 - 09:00
Trump executive orders target climate, immigration policy, federal employees
22.01.2025 - 09:00
Factbox-European companies exposed as Trump takes aim at US offshore wind
22.01.2025 - 09:00

© Analytic DC. All Rights Reserved.

new
Аналіз ринку Як вплине завтра звіт NFP на курс долара США?