Gold holds at $4,120 as Houthis attack Red Sea tankers
Business
Gold is sticking around $4,120 an ounce after a recent 3% jump, thanks to rising tensions in the Middle East.
Attacks on oil tankers in the Red Sea by Yemen's Iran-backed Houthis have disrupted a major shipping route, sparking inflation worries and making gold more attractive as a safe bet.
U.S.-Iran tensions keep investors on edge
Ongoing U.S.-Iran tensions and stalled peace talks are adding to the uncertainty, keeping investors on edge.
Even with rising oil prices and weak US economic data influencing interest-rate expectations, gold has managed to stay above the important $4,000 mark.
Meanwhile, silver dipped slightly, and platinum and palladium also saw small declines.