Gold prices rise amid Hormuz Strait tensions and interest rate hike expectations
- 1XAU/USD rose 0.6% to record a price of $4,134.19 per ounce.
- 2Gold Futures prices rose 0.4% to $4,158.30.
- 3ANZ analysts stated that strong central bank buying helped limit the decline in gold prices despite investment demand pressure from high bond yields and a strong dollar.
So what's the key point?
Gold prices rose as tensions in the Middle East and expectations of interest rate hikes increased. Heavy buying by central banks helped prevent prices from falling.
Source Bloomberg +1 · View original ↗
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