Spot gold is up 0.1% at $3,369.92/troy ounce. The Middle East conflict will meanwhile be another headwind for industrial metal copper, which is viewed as a proxy to global economic growth, Hynes says.

Gold is currently holding its ground at over $2600 (approximately Rs 76,000) per ounce, according to market analysts. However, caution is advised before making any significant investment decisions.

However, Goldman does not expect silver to keep pace with gold’s rise and sees gold as the stronger performer. The bank's base case expects gold to hit $3,700 per ounce by the end of 2025 and ...

Gold prices scaled a one-week peak on Thursday, steered by simmering Middle East tensions and cooler U.S. economic data that fuelled fresh bets on Federal Reserve rate cuts.

Regardless, gold has had a remarkable year, hovering near an all-time high price. The commodity is trading 28% higher in 2024 and has increased 44.17% in the last 12 months.

Gold price bounces off the 50-day moving average at $3,321.30 as Middle East tensions eclipse dollar strength. Traders eye a gold rally toward $3,451.53.

Spot gold XAU= rose 0.8% to $1,938.79 per ounce by 0248 GMT, after scaling its highest since Sept. 20 earlier in the session. U.S. gold futures GCcv1 also jumped 0.8% to $1,951.50.

Gold prices will rise in 2024 from this year's average on bets that global central banks would start monetary policy easing and after the Middle East conflict provided a boost to gold's safe-haven ...

Gold prices slid Monday morning after Israel and Iran backed away from the brink of an escalating spiral of attacks. Gold futures dropped 2.6%, or $63 a troy ounce, to $2,350, putting them on pace ...

Have a confidential tip for our reporters? Get in Touch Before it’s here, it’s on the Bloomberg Terminal LEARN MORE By Yvonne Yue Li October 9, 2023 at 8:33 PM EDT Updated on October 10, 2023 ...