Investors turn to gold and silver as Mideast conflict escalates
Gold and silver prices are on the rise, with investors turning to these metals for safety as conflict in the Mideast escalates.
Gold futures climbed $95 to $4,171 per troy ounce, up 3.4% this week, while silver jumped $2.16 to $61.70 per troy ounce, which would be its strongest weekly gain since late February if sustained.
US and Iran clashes rattle markets
Ongoing clashes between the US and Iran have rattled markets for 11 days straight, with new strikes and threats keeping everyone on edge.
The tension has also pushed up gold and silver prices in India, where gold hit ₹146,000 per 10gm and silver reached ₹228,984 per kilogram on MCX.
With a big US Federal Reserve meeting coming up next week, and no rate changes expected, investors are keeping a close watch on how things unfold.