Gold Prices Rebound from Yearly Low Amid Easing Middle East Tensions

Gold prices have rebounded from their yearly low as tensions in the Middle East have eased. The surge in international oil prices following the conflict between the US and Iran had weakened gold, but investor sentiment has recovered somewhat as oil prices returned to stability.

According to the Korea Exchange, spot gold on the KRX gold market closed at 189,810 won on the 24th of this month. This marks a 5.85% decline from a month earlier and is the cheapest price this year, with a fall of 29.65% compared to its yearly high recorded in January.

The rebound comes as international oil prices have fallen following the halt of airstrikes by the US on Iran and Iran's cessation of retaliatory attacks. Brent crude futures for October delivery fell to around $87 per barrel.