Economy

Gold Tops $2,000 Per Ounce on Comex Amid Middle East Crisis

MOSCOW (Sputnik) - Gold prices rallied 1% on the US metals exchange Comex on Friday to exceed the psychological mark of $2,000 per troy ounce as hostilities continued to heat up in the Middle East.
Sputnik
Two hours into the opening of the New York metals exchange, the price of traders’ safe-haven commodity with the contract for delivery in December grew $21.4 to $2,001.9 per ounce, while silver futures added 3.11% to trade at $23.747 per ounce.
Gold prices have grown nearly 3% since the start of the week as Israel intensified attacks on the Gaza Strip. Cross-border fighting has also continued between Israel and Lebanon’s Hezbollah.
Economy
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US Federal Reserve Chair Jerome Powell spoke on Thursday about high inflation risks and tightening financial conditions that would likely affect the central bank’s monetary policy. The market took it as a hint of more interest rate hikes yet to come.
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