2023-10-22 19:47:00
The price of gold rose to a four-week high amid the escalation of the Palestinian-Israeli conflict. Bloomberg reports this.
Gold rose sharply in price to a four-week high as the situation in the Middle East increased demand for protective assets, the agency reports. Since the start of hostilities between Hamas and Israel, the price of gold has jumped 6%. Before that, it was trading near a seven-month low, partly due to a sharp sell-off in US Treasuries.
Further escalation of the conflict, according to estimates by the Australian financial group ANZ Banking Group Ltd, should lead to the fact that the purchase of protective assets will become more in demand.
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