Gold is above $5,300 at the beginning of today’s trading
Gold prices rose at the beginning of trading today, Monday, by approximately 2%, supported by widespread demand for safe assets, in the wake of The joint American-Israeli attacks on Iran on Saturday, and the subsequent missile and drone attacks on a number of countries neighboring Iran.
The price of gold in spot transactions rose by 2% to $5,360 per ounce by 23:05 GMT, while gold futures rose by 2.5% to $5,380 per ounce.
And in other precious metals, the price of silver rose by Approximately 1% to $94 per ounce.
On the other hand, the The US dollar fell by 0.2% against major currencies, making dollar-denominated gold more expensive for holders of other currencies.
The US and Israeli strikes on Iran have exacerbated uncertainty in global markets, as investors closely monitor potential safe-haven flows into gold and metals, and possible movements in the markets as they return to work on Monday.
Gold Price Forecast
Fouad Rizqzadeh, a markets analyst at "Forex. com": "There will be additional safe-haven gold demand, which could send prices rising to around $5,500 again, and possibly to a new record high beyond the January peak of around $5,600."
He added: "However, gold gains beyond this level may be limited due to a possible recovery in the US dollar, especially if The price of crude oil rose sharply."
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