{"id":1267,"date":"2023-10-13T20:06:02","date_gmt":"2023-10-13T20:06:02","guid":{"rendered":"https:\/\/infundpros.com\/markets\/commodities\/gold-biggest-week-since-march-back-at-1900-after-one-huge-geopolitical-leap\/"},"modified":"2023-10-13T20:06:03","modified_gmt":"2023-10-13T20:06:03","slug":"gold-biggest-week-since-march-back-at-1900-after-one-huge-geopolitical-leap","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=1267","title":{"rendered":"Gold: Biggest week since March, back at $1,900 after one huge geopolitical leap"},"content":{"rendered":"
\n

Investing.com – From near the jaws of $1,700 an ounce, gold bulls are back to $1,900 safety, after the Middle East\u2019s latest crisis led to a huge leap Friday that topped a week of incredible price swings in the yellow metal.<\/p>\n

Gold\u2019s most-active contract on New York\u2019s Comex, December, settled at $1,941.50 per ounce, up $58.50, or 3.1%, on the day. For the week, the benchmark gold futures showed a gain of 5.2%, its most in a week since March.<\/p>\n

The , more closely watched by some traders than futures, was at $1,928.42 by 12:48 ET (16:48 GMT), up $59.55, or 3.2%. Last Friday, the spot price, which reflects real-time trades in bullion, hit an intraday low of $1,810.10 \u2014 less than $10 above $1,700 territory.<\/p>\n

Friday\u2019s move up was the biggest in a day for spot gold since March 17. The rounded-up weekly gain of 5% in the current week was also the largest since March.<\/p>\n

Gold\u2019s latest jump came after the Israeli government late on Thursday warned more than 1 million people in Northern Gaza to evacuate the area as its war with Hamas escalated. Talk was also growing that Israel was preparing for a major land assault on Gaza.<\/p>\n

\u201cGrowing chaos in the Middle Easter continues to fuel safe-haven demand for gold as a 2% rally into the weekend also puts pressure on bears in the marketplace,\u201d Neils Christensen wrote on kitco.com, the website of the bullion trading brand of the same name.<\/p>\n

More startling, the gold rally came as the , or DXY, ticked up for a second day in a row, resuming the greenback\u2019s run-up over the last three months, which was interrupted only by last week\u2019s slide. Gold typically moves in opposite direction to the dollar.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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