Tag: gold demand

Gold surged over 2% and was on track for its strongest weekly performance in seven months on Friday, according to a Reuters report. This rally was fueled by heightened safe-haven demand due to ongoing Middle East tensions and the perception that U.S. interest rates may have reached their peak.At 9:22 a.m. ET (1322 GMT), spot gold had risen by 2.1% to reach $1,907.30 per ounce. U.S. gold futures increased by 2% to hit $1,921.20. For the week, prices had gained 4.1% so far.The escalating conflict between Israel and...