2024-01-29T06:02:39+00:00
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/ Gold prices rose on Monday, as escalating tensions in the Middle East increased demand for the precious metal as a safe haven amid limited trading, as investors await statements by the US Federal Reserve Chairman to clarify the matter regarding interest rates.
Spot gold rose 0.4% to $2,025.99 an ounce, while U.S. gold futures also rose 0.4% to $2,025.20.
Markets expect the US central bank to keep interest rates unchanged at its meeting scheduled for January 30-31.
Investors are concerned about heightened geopolitical risks after three US soldiers were killed in a drone attack on US forces stationed in northeastern Jordan near the Syrian border.
Among other precious metals, spot silver rose 0.5% to $22.91 an ounce. Platinum fell 0.2% to $911.18, and palladium fell 0.3% to $952.33.