Commodities
Gold Prices Soar to $4,650 as US Imposes Sanctions on Iran
Spot gold prices have surged to new heights, surpassing the $4,650.00 per ounce mark and trading at $4,650.05 per ounce as of today. This represents a daily increase of 0.99%. Meanwhile, the main COMEX gold futures contract has also seen an uptick, quoting at $4,705.80 per ounce with a 0.54% rise on the day.
The US Dollar Index (DXY) reached a weekly high after US Treasury Secretary Steven announced new sanctions against Iran. In response to these sanctions, countries and companies doing business with Iran are facing potential US retaliation, although the exact measures have not been specified by Secretary Ben.