• Sat, Feb 7, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

26 October 2024 01:59  |

Gold Firms as Mideast Woes, Election Uncerainty Lift Prices

Gold prices edged up on Friday after recovering from a profit-taking bout as Middle East tensions and U.S. election jitters supported prices, while palladium prices extended gains to 10-month highs.

Spot gold was up 0.2% at $2,741.50 per ounce by 01:44 p.m. ET (1744 GMT). Prices hit a record $2,758.37 on Wednesday and logged a third straight weekly gain.

U.S. gold futures settled 0.2% higher at $2,754.60.

The fact that maybe something is going to happen this weekend between Israel and Iran could have triggered some safe-haven buying going into the weekend, said Bob Haberkorn, senior market strategist at RJO Futures.

At least nine Palestinians were killed and several wounded in an Israeli air strike on Al-Shati, medics told Reuters.

Non-yielding gold has risen over 32% so far this year as safe-haven demand stemming from ongoing tensions in the Middle East bolstered prices, along with a half-point basis cut by the Federal Reserve.

Source : Reuters

Related News

GOLD

Fed Rate Cut Bets Drive Gold to All-Time High

Gold prices extended gains to hit a record high on Friday on expectations of interest rate cuts by the Federal Reserve, while...

13 September 2024 21:27
GOLD

Global uncertainties propel gold to record high, silver soar...

Normal 0 false false false EN-US X-NONE X-NONE ...

21 October 2024 18:55
GOLD

Gold at Over One-Week Low on Firm Dollar, US Payrolls Data A...

Gold prices eased to their lowest in more than a week on Tuesday, pressured by a firm dollar, while investors awaited U.S. no...

4 September 2024 01:51
GOLD

Gold Breaks $2,600 Barrier as Fed Cut Bets Prolong Historic ...

Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest ...

21 September 2024 01:52
BIAS23.com NM23 Ai