Gold prices fell today after reaching the highest level in nearly a month, with escalating fears of the conflict between Israel and Hamas, which pushed the precious metal to rise by more than 3% in the previous session.
By 01:02 GMT, gold in spot transactions fell 0.5% to $1,921.69 per ounce. US gold futures fell 0.4% to $1,934.40 an ounce.
Gold, which is seen as a safe investment in times of turmoil, hit its highest level since September 20 at $1,934.82 an ounce earlier in the session after rising 3.4% on Friday, its highest daily increase in seven months, according to Reuters.
As for other precious metals, silver decreased in spot transactions by 0.4% to $22.62 per ounce. Platinum fell 0.2% to $879.19 an ounce. Palladium settled at $1,147.55 per ounce.
2023-10-16 04:32:44
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