Gold Edges Higher Amid Geopolitical Tensions in Middle East
Gold edged up in early Asian trading as geopolitical tensions in the Middle East boosted the precious metal’s appeal as a safe-haven asset.There is heightened uncertainty following the death of Hamas leader Yahya Sinwar, wrote Samer Hasn, senior market analyst at XS.com.
Sinwar’s death adds further uncertainty to the negotiations and conflicts in the Middle East, given that Sinwar was a key decision-maker, Hasn said.Israeli Prime Minister Netanyahu’s office said a drone from Lebanon flew toward his private residence near Tel Aviv before exploding early Saturday.Spot gold rose 0.1% to $2,723.28/oz.
Source: Bloomberg