Gold rises over 1% to $4,189.99 as dollar weakens
Business
Gold prices climbed over 1% on Friday, thanks to a weaker US dollar and falling oil prices.
Spot gold hit $4,189.99 per ounce, while December futures reached $4,215.30.
The dip in the dollar made gold more affordable for buyers outside the US lowering the cost for buyers outside the US.
Oil drops after Trump Iran reassurance
Oil prices dropped after President Trump reassured there would be no attacks on Iran before midterm elections, easing worries about supply issues from the Middle East.
Analysts like Nikos Tzabouras say things look good for gold right now but warn that ongoing global tensions and possible interest rate hikes could still shake things up.
Other metals, like silver, platinum, and palladium, also saw gains.