Gold prices rise amid conflict in Middle East

Gold prices rose during Asian trading on Thursday, as escalating tensions in the Middle East prompted investors to seek safe havens, while a weaker US dollar provided additional support for the precious metal, Report informs referring to trading data.

Spot gold rose 0.8% to $5,179.60 per ounce. US gold futures fell 0.3% to $5,188.29.

Gold gained 1% in the previous session. The recovery followed a nearly 5% decline on Tuesday, when a stronger dollar weighed on prices.