Gold prices surge amid geopolitical tensions

Gold prices increased for the fourth consecutive day on Thursday due to safe-haven demand amid rising tensions in the Russia-Ukraine conflict. Investors are also anticipating comments from US Federal Reserve officials regarding interest rates.

Spot gold prices rose at 7:01 GMT by 0.41 per cent to $2,661.06 per ounce, compared to the previous closing price of $2,650.26.

Meanwhile, US gold futures increased 0.43 per cent to $2,663.15, compared to Wednesday’s closing of $2,651.7.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama