https://newsletter.en.creamermedia.com
Cutting|Gold|Nuclear|Platinum
Cutting|Gold|Nuclear|Platinum
cutting|gold|nuclear|platinum

Gold surges past $2 400 on Middle East conflict concerns

Gold bars

Photo by Bloomberg

19th April 2024

By: Bloomberg

  

Font size: - +

Gold surged past $2 400 an ounce as concerns over rising tensions between Israel and Iran stoked haven demand.

Bullion rose as much as 1.3% and headed for a fifth weekly gain after unverified media reports of explosions in Iran, Syria and Iraq.

Rhetoric between Iran and Israel has intensified since last weekend’s drone and missile strike, with the Islamic Republic warning against attacking its nuclear facilities, and threatening to respond in kind if they are targeted. The US, meanwhile, has urged restraint.

Those geopolitical risks largely offset jobs data on Thursday that fanned concerns that the Federal Reserve has some way to go before cutting rates — a view shared by a number of policymakers. Higher borrowing costs are typically negative for the precious metal, which doesn’t pay interest.

Robust demand from global central banks and Chinese consumers have also supported bullion, which is creeping back up toward last week’s record high. Data on Thursday showed exports from Switzerland into China climbed 31% in March from a month earlier.

Spot gold was up 1.1% at $2,404.95 an ounce at 9:36 a.m. in Singapore. The Bloomberg Dollar Spot Index rose 0.2%. Silver, palladium and platinum also rose.

Edited by Bloomberg

Comments

 

Latest News

SAPVIA CEO Dr Rethabile Melamu
South Africa PV capacity increases 12% in 2024
20th December 2024 By: Schalk Burger

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.218 0.312s - 190pq - 2rq
Subscribe Now