Gold rises on demand for safe-haven assets as tensions escalate in the Middle East
Photo - M.A.N.
Gold prices rose on Thursday, supported by investors’ flight to safe-haven assets amid escalating tensions in the Middle East, while the dollar’s rise limited gains.
Spot gold rose 0.4% to $5,153.11 per ounce, while U.S. gold futures for April delivery rose 0.5% to $5,161.30.
The dollar recovered from losses recorded in the previous session, making gold priced in U.S. dollars more expensive for holders of other currencies.
Gold has risen nearly 20 percent since the start of the year, hitting successive record highs amid global political and economic uncertainty, as investors await U.S. employment data and jobless claims figures.
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