2024-01-12T05:20:25+00:00
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/ Gold prices rose today, Friday, with increasing fears of the escalation of the conflict in the Middle East due to international air strikes on Yemen, which led to an increase in the appeal of the yellow metal as a safe haven.
By 0427 GMT, the spot price of gold rose 0.3 percent to $2,033.89 per ounce. However, it is down 0.6% so far this week.
Gold futures rose nearly 1% to $2,038.00, according to Reuters.
The United States and Britain launched strikes against sites linked to the Houthi movement in Yemen, while Saudi Arabia called for restraint in light of the strikes.
In broader financial markets, Asian stocks were cautious on Friday, as escalating conflict in the Red Sea region pushed oil prices higher.
Data on Thursday showed that US consumer prices rose more than expected in December, but excluding volatile food and energy costs, the pace of price increases fell to 3.9% from 4% year-on-year.
Silver rose in spot transactions 0.4% to $22.82 per ounce, platinum gained 0.2% to $917.48, and palladium rose 0.1% to $989.29.