Gold climbs as oil prices and navigation concerns grow
Gold prices have risen to their highest level in about two weeks, supported by increased demand for safe havens and ongoing Middle East tensions that have affected shipping routes and energy supplies. The precious metal jumped by 1.6% to reach $4,139.64 per ounce, amid growing fears that the conflict in the region could expand and impact oil prices and global markets. Investors are turning to gold amid expectations that the Federal Reserve will maintain its stable interest rate policy through the end of 2026, while geopolitical risks intensify with Houthi threats and rising oil prices, despite diplomatic efforts to ease tensions. Other precious metals, such as silver and platinum, also saw gains due to strong buying appetite.
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