Gold prices rose on Wednesday as investors sought safe assets following a surge in tensions in the Middle East. However, gains were limited as fears of a full-scale conflict between the US and Iran eased.
Spot gold increased by 0.3%. Earlier, the price reached its highest level since March 2013. US gold futures rose by 0.5%.
The rise in gold prices was supported by fears that the conflict could disrupt oil supplies and harm the global economy. However, these fears subsided after Iran stated that it does not want war, and U.S. President Donald Trump said that Iran seems to be backing down.
Despite the rise, gold remains in a range as investors await further developments in the Middle East. Attention is also focused on trade negotiations between the U.S. and China.
For the latest news, subscribe to #MiningUpdates . We provide up-to-date information on factors affecting prices, as well as forecasts and advice for investors.
#GOLD #GoldPrice #Mining #Commodities #investments #MiddleEast #Geopolitics