Gold is witnessing an ascent amid increasing geopolitical tensions, shining as a safe-haven.

Gold prices have risen as demand for it as a safe haven has increased in light of the recent tensions in the Middle East.

Gold rose by 1.2% in early Asian trading on Monday as markets prepare for headwinds and volatility due to recent events.

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Gold began its ascent on Friday after coming close last week to its lowest levels since March
when it was affected by signals from the Federal Reserve that
it would maintain a tighter monetary policy for a longer period,
along with rising US bond yields putting pressure on assets that do not yield returns to investors.

Gold advances despite headwinds.

and Gold gains on Monday despite the rise in US employment rates in September,
reinforcing expectations of further interest rate hikes. Over the weekend,
Federal Reserve Governor Michelle Bowman indicated that inflation in the United States remains elevated and suggested that there may be a need for further monetary tightening.
Higher interest rates are typically seen as negative for gold.

At 7:25 AM Singapore time, the spot price of gold rose by 0.9% to reach $1,848.83 per ounce, following a 0.7% increase on Friday. Meanwhile, Bloomberg’s spot dollar index rose by 0.1%. While silver prices rose, platinum and palladium prices declined.

Gold is witnessing an ascent amid increasing geopolitical tensions

Gold is witnessing an ascent

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