Gold Shines as Middle East Conflict Impacts Investor Sentiment

  • International
  • 26 October 2023
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Gold prices rose on Thursday, Oct. 26 as investors continued to worry about the conflict in the Middle East. The safe-haven yellow metal held up despite a rise in the dollar and U.S. Treasury yields.

Spot gold rose 0.4 percent to $1,986.79 an ounce. U.S. gold futures also increased 0.1 percent to $1,997.10.

The dollar and 10-year Treasury yields rose after data showed new home sales rose to a 19-month high in September, confirming market expectations that interest rates will remain high for longer until 2024.

Source (CNBC Arabia Website, Edited)