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Yahoo
2 days ago
- Business
- Yahoo
Gold Steady Near Record High as Mideast War Drives Haven Bids
(Bloomberg) -- Gold was steady near a record high as an escalating conflict between Israel and Iran drove investors toward haven assets. Shuttered NY College Has Alumni Fighting Over Its Future As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space Do World's Fairs Still Matter? NYC Renters Brace for Price Hikes After Broker-Fee Ban As American Architects Gather in Boston, Retrofits Are All the Rage The precious metal erased gains made earlier on Monday to trade close to $3,430 an ounce, about $70 short of an all-time peak set in April. The two countries continued to hit each other with barrages of missile and drones, with the hostilities pushing up energy prices on the threat to energy infrastructure and transport in the region. The sudden upsurge of geopolitical risk has added more impetus to a rally that's primarily been driven by the threat to global economic growth from President Donald Trump's aggressive tariff agenda. Gold has rallied more than 30% in 2025, with central banks seeking to diversify away from the dollar being another significant driver. 'Prices are still very close to the record, and given the geopolitical situation any further escalation will push them higher,' said John Feeney, an analyst at Guardian Gold Australia. 'Gold has performed very well as a haven recently, and it seems a lot of investors are moving funds out of US bonds and into the metal over the longer term.' A 1.4% jump in the precious metal on Friday came after a two-day gain as weak US inflation and jobs data fueled bets the Federal Reserve will cut interest rates later this year. Lower rates tend to benefit bullion as it doesn't pay any interest. Spot gold dipped 0.2% to $3,427.25 an ounce as of 12:59 p.m. in Singapore. The Bloomberg Dollar Spot Index added 0.1% after dropping 0.8% last week. Silver edged lower, while platinum and palladium advanced. American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software As Companies Abandon Climate Pledges, Is There a Silver Lining? New Grads Join Worst Entry-Level Job Market in Years US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom ©2025 Bloomberg L.P. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Mint
2 days ago
- Business
- Mint
Gold Edges Toward Record High as Mideast War Drives Haven Bids
Gold rose toward a record high as an escalating conflict between Israel and Iran drove investors toward haven assets. The precious metal climbed as much as 0.6% in Asia to near $3,450 an ounce, about $50 short of an all-time peak set in April. The two countries hit each other with barrages of missile and drones over the weekend, with the hostilities pushing up energy prices on the threat to energy infrastructure and transport in the region. The sudden upsurge of geopolitical risk has added more impetus to a rally that's primarily been driven by the threat to global economic growth from President Donald Trump's aggressive tariff agenda. Gold has rallied more than 30% in 2025, with central banks seeking to diversify away from the dollar being another significant driver. 'Prices are still very close to the record, and given the geopolitical situation any further escalation will push them higher,' said John Feeney, an analyst at Guardian Gold Australia. 'Gold has performed very well as a haven recently, and it seems a lot of investors are moving funds out of US bonds and into the metal over the longer term.' The 1.4% jump in the precious metal on Friday came after a two-day gain as weak US inflation and jobs data fueled bets the Federal Reserve will cut interest rates later this year. Lower rates tend to benefit bullion as it doesn't pay any interest. Spot gold rose 0.3% to $3,441.35 an ounce as of 9:14 a.m. in Singapore. The Bloomberg Dollar Spot Index added 0.1% after dropping 0.8% last week. Silver edged lower, while platinum and palladium advanced. This article was generated from an automated news agency feed without modifications to text.
