Gold prices inched up on Thursday as investors preferred to stay put with the sa...
- Gold prices inched up on Thursday as investors preferred to stay put with the safe-haven metal even though the chances of an escalation in U.S.-Iran conflict waned after the two sides softened their stance.
President Donald Trump said on Wednesday the United States did not necessarily have to respond militarily to Iran’s attack on U.S. troops in Iraq, while Iranian Foreign Minister Mohammad Javad Zarif said the strikes “concluded” Tehran’s response to the killing of commander Qassem Soleimani. Gold, considered a safe investment in times of political and economic uncertainty, had risen as much as 2.4% on Wednesday and surpassed the key $1,600 level after Iran’s retaliatory attacks.“... lingering geopolitical concerns around the Middle East are keeping a bid under gold,” Stephen Innes, a market strategist at AxiTrader said in a note.
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