Gold and silver prices strengthened in today’s trading as investors sought to assess the potential risks and length of fighting in light of heightened geopolitical concerns over the Middle East conflict.
Gold futures prices for next April delivery rose 3.37% ($176.9) to $5,424.8 per ounce as of 11:49 a.m. Mecca time.
Silver futures for next May delivery also rose 3.05% to $96.14 an ounce, after hitting $97.30 earlier.
downward pressure
The yellow metal’s ready price rose 2.2% or $115.88 to $5,394.81 an ounce, the spot price of platinum rose 1.04% to $2,392.34 and palladium rose 1.8% to $1,820.46 an ounce.
These gains came even as the dollar index, which measures the dollar’s value against a basket of major currencies, rose 0.77% to 98.36 points, as a strengthening U.S. currency typically puts downward pressure on goods denominated in that currency.
Gold and silver prices strengthened in today’s trading as investors sought to assess the potential risks and duration of combat operations amid heightened geopolitical concerns stemming from the Middle East conflict.
As of 11:49 a.m. Mecca time, gold futures prices for April delivery rose 3.37%, or $176.9, to $5,424.8 per ounce.
Silver futures for May delivery also rose 3.05% to $96.14 an ounce, after hitting $97.30 earlier.
downward pressure
The spot price of the yellow metal rose 2.2% or $115.88 to $5,394.81 an ounce, the spot price of platinum rose 1.04% to $2,392.34 and the spot price of palladium rose 1.8% to $1,820.46 an ounce.
These gains came even as the dollar index, which measures the dollar’s value against a basket of major currencies, rose 0.77% to 98.36 points, as a strengthening U.S. currency typically puts downward pressure on goods priced in the U.S. currency.
