Gold Prices Rise Over 1% Amid Escalating Geopolitical Tensions in the Middle Eas

Aleqtsad.

Gold futures strengthened their gains during Tuesday’s trading amid increased demand for safe-haven assets following the announcement of the Israeli army launching missiles from Iran towards the Israeli entity, just hours after a warning from a U.S. official regarding the situation.

December gold futures rose by 1.2% or $31.8, reaching $2,691.2 per ounce, after touching $2,694, marking the first increase for the yellow metal in three sessions.

Meanwhile, the U.S. dollar index, which measures the performance of the U.S. currency against a basket of six major currencies, increased by 0.55% to 101.31 points at 7:45 PM Mecca time.

In a security statement on its website, the U.S. embassy in Jerusalem directed all government employees and their families to remain in place until further notice, emphasizing the ongoing need for caution.

According to NBC News, a U.S. official stated that Iran is preparing to launch a ballistic missile attack against Israel, which could be on the same scale as the April attack or possibly larger, when hundreds of drones along with cruise missiles were launched towards Israel.