Gold jumps by more than 2% amid geopolitical tensions and anticipation of the Federal Reserve minutes

Gold prices rose by more than 2% today, as investors assessed the escalation of geopolitical risks and awaited the release of the minutes of the US Federal Reserve’s January meeting.

Gold rose in instant transactions by 2.6% to reach $5,003.85 per ounce, after it had declined by more than 2% yesterday, recording $4,841.74, its lowest level in a week. US gold futures for April delivery rose 2.4% to $5,024.

As for the rest of the precious metals, platinum rose by 4.4% to reach $2,095.57 per ounce, and palladium rose by 3.5% to $1,740.89, while silver moved in a limited range after its decline in the previous session.