Skip to main content

Gold rises to session highs as Iran intensifies the rhetoric

Yesterday afternoon Gold ran into selling interest just ahead of $2,400 once again. The price stalled at $2,395.62. The fall that followed came into the European close and the metal later dropped back by around $30, before later closing in the US at $2,361.02. It has not traded below that US close so far today. In fact, it has been on the rebound again and just now it hit a session high at $2,385.42. The reason for the move just now seemed to stem from an intensification of the rhetoric against Israel coming out of Iran. The latest news reports suggest that Iran is set to target Israeli nuclear facilities if they are attacked. That is a major concern, if there is any basis of truth in the comments and as such it helped to deliver another push to gold as a haven. The metal is just now trading at $2,382.90

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!