{"id":123453,"date":"2024-04-21T00:00:00","date_gmt":"2024-04-21T00:00:00","guid":{"rendered":"http:\/\/kuwaitnewsgazette.com\/?guid=af909e9d544d928dd6814b064f00a893"},"modified":"2024-04-21T00:00:00","modified_gmt":"2024-04-21T00:00:00","slug":"gold-prices-surge-to-usd-2390-per-ounce-amidst-geopolitical-tensions","status":"publish","type":"post","link":"https:\/\/kuwaitnewsgazette.com\/gold-prices-surge-to-usd-2390-per-ounce-amidst-geopolitical-tensions\/","title":{"rendered":"Gold prices surge to USD 2,390 per ounce amidst geopolitical tensions"},"content":{"rendered":"
\nGold prices logged new highs at USD 2,390 per ounce on Friday stimulated by geopolitical tensions in the Middle East.<\/p>\n
A report issued by Dar Al-Sabaek on Sunday indicated that investors perceive gold as a safe refuge in times of uncertainty, and lack of visibility.<\/p>\n
Gold futures remained steady at USD 2,431 an ounce, a testament to strength of demand as investors and central banks all around the globe look into increasing gold purchases up until next June.<\/p>\n
Last week, the US dollar index persisted at 106.1 points, as gold futures reached USD 2,433 per ounce.<\/p>\n
The US economy’s positive outcomes should have sent gold prices hurtling, explained the report, but to current geopolitical climate gold prices endured.<\/p>\n
Indices of retail sales and purchasing managers’ performed well, prompting the US Federal Reserve (the central bank) to keep interest rate between 5.25 and 5.5 percent to counter continuous inflation.<\/p>\n
Analysts are awaiting personal consumption expenditure data next Friday, which will give incite on in
\nflation rate in upcoming period.<\/p>\n
The appeal of gold is as a safe investment is speculated to remain steady during short and medium-length terms in this state of uncertainty.<\/p>\n
In local markets, 24-karat gold reached KD 23.89 per gram (approx. USD 73), 22-karat gold KD 21.09 (approx. USD 67), while price of silver closed at KD 355 per kilogram<\/p>\n
Source: Kuwait News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices logged new highs at USD 2,390 per ounce on Friday stimulated by geopolitical tensions in the Middle East.<\/p>\n
A report issued by Dar Al-Sabaek on Sunday indicated that investors perceive gold as a safe refuge in times of uncertainty, and lack…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"yoast_head":"\n