Gold prices today remain above $4,000, despite ongoing violence in the Middle East
Gold prices stayed above $4,000. On Monday’s open, they were at $4,005.60, rising to $4,016.10 per ounce in the afternoon. Violence in the Middle East continued: the U.S. military was attacked again on Sunday, killing three people, while another person died in an incident involving a drone in northern Iran. The United States carried out airstrikes on targets in Iran for nine consecutive nights. Rubio said he is willing to resolve the issue through diplomacy, but Iran needs to reopen the Strait of Hormuz. The closure of the Strait of Hormuz has pushed up oil prices, which could trigger inflation risks and thereby weigh on support for gold prices from further Federal Reserve rate hikes.
