Gold price surges to nearly $2,410 per troy ounce during the Asian session on Friday.
Gold price rises as risk aversion intensifies following reports of Israeli missiles striking a site in Iran. Iran’s Fars News Agency reported explosions at the central Isfahan airport. The gains in the US Dollar could limit the advance of the Gold prices. The safe-haven yellow metal gains ground as risk aversion sweeps across the financial markets following confirmation from ABC News that Israeli missiles struck a site in Iran, exacerbating tensions in the Middle East.
The stronger USD renders bullion more expensive for holders of other currencies. Atlanta Fed President Raphael Bostic highlighted that US inflation is excessively high and emphasized that the Fed still needs to make progress on addressing inflation. Meanwhile, New York Fed President John Williams stressed the Fed's commitment to being data-dependent and expressed that he does not currently perceive an immediate need to lower interest rates. XAU/USD Overview Today last price 2412.
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