Gold prices continue to rise as demand increases due to Middle East tensions, reaching another record close at $2,383 per ounce. The rally is supported by geopolitical heat and coincides with record equity index levels.
Gold prices continued its rally as Middle East tensions spurred demand, lifted by the bullion's safe haven appeal .
Gold prices continued to hover near record highs days after Middle East tensions flared, boosting the safe-haven appeal of bullion. "The recent gold rally has been aided by geopolitical heat and is coinciding with record equity index levels," Citi wrote in a note dated April 15.A significant retaliation could lead to a wider conflict, which would consequently trigger renewed buying of gold, as well as a rally in oil prices and strengthening of the U.S. dollar, said Bartosz Sawicki, market analyst at financial services firm Conotoxia fintech.
Gold Prices Rally Middle East Tensions Safe Haven Appeal Record Close Geopolitical Heat Equity Index Levels
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