Gold rose to a near two-month high on Monday, as escalating clashes between Israel and Iran over the weekend stoked fears of a wider regional conflict, prompting investors to turn to safe-haven assets.
Spot gold was little changed at $3,428.89 an ounce, at 0508 GMT, after hitting its highest since April 22 earlier in the session.
U.S. gold futures fell 0.1% to $3,448.10.
"The compounding political risk premium that has risen due to the current Iran-Israel conflict has boosted safe-haven demand for gold," said Kelvin Wong, senior market analyst, Asia Pacific at OANDA.
"Currently, prices have clearly broken through the $3,400 level and the near-term uptrend is still intact. We see resistance at $3,500 with a possibility of a fresh high above the $3,500 level."
Israel and Iran launched fresh attacks on Sunday, killing and wounding civilians and raising fears of a wider regional conflict, with both militaries urging civilians on opposing sides to take precautions against further attacks.
US President Donald Trump said he hoped Israel and Iran could broker a deal but said sometimes countries have to fight first.
Gold is considered a safe haven during times of geopolitical and economic uncertainty.
Investors will be looking ahead to a number of central bank monetary policy decisions this week, with the spotlight on the US Federal Reserve on Wednesday.
The US central bank is widely expected to keep interest rates steady, with markets looking for signs of a potential rate cut in the coming months.
Futures markets show expectations for two more rate cuts by the end of the year, possibly starting in September, supported by weak inflation data last week.
Elsewhere, spot silver fell 0.1% to $36.28 an ounce, platinum rose 0.4% to $1,233.12, while palladium rose 1.4% to $1,041.85. (alg)
Source: Reuters
Gold prices held near $4,000 an ounce after a weak start on Monday, as China ended long-standing tax breaks for some retailers. This change could weigh on demand in one of the world's largest precious...
Gold prices rose on Monday (November 3), boosted by expectations of further US interest rate cuts following comments from the US Federal Reserve Board's Christopher Waller, although a stronger dollar ...
China ended a long-standing tax exemption policy for some gold retailers on Saturday, potentially discouraging purchases of the precious metal in the world's largest consumer market. Beijing will rem...
Gold prices fell early in the Asian session after China's Ministry of Finance ended tax incentives for precious metal sales as of November 1st. This decision surprised the market, as the previous rule...
Harga emas terus mengalami penurunan tajam pada hari ini, diperdagangkan di sekitar $3.983. Pergerakan ini terjadi karena beberapa faktor utama yang mempengaruhi pasar. Salah satunya adalah penguatan ...
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This...
The S&P 500 rose on Monday, led by tech, as a new month of trading began. The benchmark gained 0.5%, while the Nasdaq Composite advanced 1%. The Dow Jones Industrial Average climbed 18 points. Micron Technology gained 5% to lead chipmaker...
Gold prices held near $4,000 an ounce after a weak start on Monday, as China ended long-standing tax breaks for some retailers. This change could weigh on demand in one of the world's largest precious metals markets. Gold bullion prices for...
Asian stock markets moved mixed on Monday, November 3, 2025. Japan led the gains: the Nikkei 225 remained near its record high of around 52.4...
The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who...