Global Gold Prices Climb
Gold prices rose to their highest levels in nearly two weeks, reaching $4,113.73 per ounce in spot trading and approximately $4,100 in futures contracts. This increase was supported by technical buying and investor anticipation ahead of the upcoming Federal Reserve meeting, which is expected to keep interest rates steady until the end of 2026 to address persistent inflation. Markets are also focusing on escalating tensions in the Middle East, with disruptions to oil tankers amid Houthi threats, the Iranian Interior Minister’s visit to Pakistan, and ongoing US airstrikes on Iran. Meanwhile, prices of other precious metals also saw significant gains.
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