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Price jumps towards $2000
An impending escalation of fighting in the Middle East drives investors increasingly to “safe havens.”
On Friday, the gold price continued the highs of the past trading days and rose towards the $2,000 mark.
In the morning, the precious metal traded on the London Stock Exchange at $1,985 per troy ounce (around 31.1 grams). That's about eleven dollars more than the day before. It is also the highest level since July.
Since the terrorist attack on Israel by the Islamist Hamas barbarians on October 7th, the price of gold has been soaring.
During this time, the precious metal has increased by around $150 or more than eight percent. In recent days, the conflict has threatened to spread to other countries in the Middle East, growing geopolitical risks and increasing demand for safe havens such as gold.
Gold investors currently give concerns about a possible escalation greater weight than the sharp rise in capital market interest rates.
The yields on US government bonds with a term of ten years have risen to almost five percent - the highest level since 2007. The products on federal bonds have also risen sharply recently.
Gold investors currently give concerns about a possible escalation greater weight than the sharp rise in capital market interest rates.
The yields on US government bonds with a term of ten years have risen to almost five percent - the highest level since 2007. The products on federal bonds have also risen sharply recently.
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