Gold's Safe-Haven Appeal Surges Amidst Middle East Risks and Uncertainty
Gold and silver prices are rising due to safe-haven buying as tensions in the Middle East increase. Gold prices hit a 2.5-month high and are approaching $2,000.00, while silver prices are also trending higher. Heightened tensions in the Middle East and rising bond yields are dampening risk appetite in the markets. The U.S. dollar index is steady, crude oil prices are higher, and U.S. stock indexes are expected to open slightly weaker. Federal Reserve Chairman Jerome Powell's comments on inflation and economic growth had little impact on the markets. Technical analysis suggests that gold and silver bulls have the advantage in the near term.