Gold Hits New Record on Mideast Tension as Traders Weigh US Data
This article is for subscribers only.
Gold climbed to a fresh record amid ongoing tensions in the Middle East as traders also weighed US data that kept alive bets on the Federal Reserve’s interest-rate cuts.
Bullion touched an all-time high of $2,696.78 as Israel said it killed Hamas leader Yahya Sinwar, the architect of the Palestinian group’s attack on southern Israel that triggered a year-long war in Gaza. Investors typically seek safety in the precious metal in times of geopolitical and economic uncertainty.