Gold Rises as Buying Interest Counters Concern Over Hormuz Clash

Gold rose, as signs of buying interest emerged even as fresh clashes in the Middle East threatened to fracture a fragile ceasefire.

Bullion traded near $4,720 an ounce, headed for a gain of about 2% this week. The US struck military targets in Iran after the country fired on three navy destroyers sailing in the Strait of Hormuz. The monthlong truce was still in effect, however, President Donald Trump said.