Gold rises amid tensions in the Middle East and falling dollar
Gold prices rose to near record highs on Wednesday as risks of conflict in the Middle East spreading to other regions led to inflows into safe-haven assets, as well as near-term support from falling U.S. dollar and Treasury yields.
Gold rose 0.3% to $2,389.38 an ounce, not far from its all-time high of $2,431.29 hit on Friday. Gold futures fell 0.1% to $2,405.10.
"The precious metal is heavily overbought from a technical perspective... but bulls are drawing strength from general uncertainty in markets, with geopolitics overshadowing data and monetary policy expectations."
Market...