Gold prices hold near two-week high on Wednesday

Gold prices stayed close to a two-week high reached on Wednesday, buoyed by the rising geopolitical tensions and the anticipation of a Federal Reserve rate cut next week. Investors are also awaiting a key US inflation report.

Spot gold prices increased at 7:04 AM GMT by 0.04 per cent to $2,694.92 per ounce, compared to the previous closing price of $2,693.94.

Meanwhile, US gold futures rose 0.44 per cent to $2,730.36, compared to Tuesday’s closing of $2,718.4.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama