Gaza Tension Triggers Gold Prices
Gold prices climbed to the highest in several weeks following the mounting tension across the Gaza strips in the Middle East. According to reports Israel has already announced a war against Hamas and moved army near the Gaza strips. As a war looks a near certain in between the two, investors choose to the yellow metal as a safe haven spurting its prices.
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According to reports, the February Gold futures rose $4.10 to $875.30/oz on the Comex division of the New York Mercantile Exchange. This marked the highest since 10 October, when it touched $892. The Gold spot prices reached $881.70, a gain of $13.00 per ounce from the prior week.