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Gold prices hit their highest since September 20
Finance
- 18 October, 2023
- 10:32
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Gold prices rose to a 30-day high on Wednesday. The Gaza hospital explosion has sparked fears of an escalating conflict in the Middle East and increased demand for safe-haven assets, Report informs.
Spot gold prices jumped by 0.7% to $1,935.63 per ounce. Earlier in the session, quotes reached their highest since September 20. Gold futures rose 0.7% to $1,948.40 an ounce.
Gold prices were supported by rising geopolitical risk premiums on fears of prolonged conflict, said Kelvin Wong, senior market analyst at OANDA.
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