Gold prices rose on Thursday, supported by escalating tensions in the Middle East and a weaker dollar. Meanwhile, weaker-than-expected US inflation data reinforced expectations of a Federal Reserve interest rate cut.
Spot gold rose 0.7 percent to $3,375.06 per ounce. US gold futures rose 1.5 percent to $3,395. The US dollar index fell to its lowest level in nearly two months, making dollar-denominated bullion more attractive to foreign buyers.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
