Gold prices climb over 1% globally amid geopolitical tensions
Gold surged in spot trading as investors sought safe-haven assets due to escalating geopolitical developments.
Key Takeaways
AIGold prices rose by more than 1% in spot trading on Tuesday, supported by geopolitical developments that boosted demand for safe-haven assets.
Gold gained 1.3% to reach $4,103.99 per ounce, while US gold futures for August delivery increased 0.9% to $4,106.10.
Significant gains for other precious metals
Meanwhile, spot silver jumped 2.7% to $59.74 per ounce. Platinum climbed 2% to $1,619.75, and palladium surged 2.3% to $1,271.93.
The rise in precious metal prices comes as ongoing geopolitical tensions prompt investors to hedge through safe-haven assets.