Gold heads for third weekly rise

27/10/2023 Argaam

Gold heads for third weekly rise


Gold prices were steady on Friday, as investors flock to gold as a secure asset that preserves its value, against the risks of military tensions in the Middle East.

 

Gold for December delivery reached $1,997.50 per ounce at 10:49 am Makkah Time.

 

Spot prices rose 0.14% to $1,987.44 per ounce. Silver futures for December advanced 0.25% to $22.97 per ounce. Spot platinum prices edged up 0.57% to $911.29 per ounce.

 

Meanwhile, investors await key inflation data from the world's largest economy amid signs of escalating conflict in the Middle East.

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