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3.2.26 - Gold jumps on safe-haven demand
3.2.26 - Gold jumps on safe-haven demand
Gold last traded at $5,336 an ounce. Silver at $89.52 an ounce.
Gold jumps as U.S.-Israel strikes on Iran spark safe-haven demand -CNBC
Safe haven gold steadied on Monday as profit taking set in after prices earlier jumped more than 2% in response to concerns of a prolonged conflict in the Middle East following U.S. and Israeli strikes against Iran.
Spot gold was little changed at $5,284.14 an ounce. It earlier hit a session high of $5,418.50. Prices touched a record of $5,594.82 on January 29.
U.S. gold futures rose 1% to $5,299.50.
The U.S. dollar ​index rose over 1%, making bullion priced in dollars more expensive for other currency holders.
"Right now, the market is attempting to figure out whether these attacks are going to be followed up over the next several weeks," said David Meger, director of metals trading at High Ridge Futures. "I think it's that uncertainty that is more than likely to support prices."
