Gold prices traded above $4,700 per troy ounce, supported by central-bank buying
and investor demand for safe-haven assets amid ongoing Middle East tensions.
Analysts at Saxo Bank said gold’s resilience despite strong equity markets
reflects sustained central-bank demand as well as concerns over inflation,
slowing growth, and rising fiscal debt. New York futures rose 0.1% to $4,715.20
and were on track for a weekly gain of 1.5%. Markets also monitored the
U.S.-Iran conflict, where both sides exchanged fire, though President Donald
Trump said the cease-fire remains in place while mediation efforts continue
toward a possible framework for renewed negotiations.
