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Gold Climbs Amid Dollar Weakness, Escalating Middle East Tensions Fuel Oil Surge

Guavy AI Editorial Team
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Gold prices rose by 1% to $4,397.47 per ounce on Wednesday as investors sought safe-haven assets amid escalating Middle East tensions and a weak US dollar.

The U.S. dollar index remained relatively unchanged at 98.77, while the Japanese yen's appreciation contributed to downward pressure on the greenback.

The price of oil surpassed $100 a barrel for the first time since July after attacks on oil facilities and ships in the Middle East threatened to debilitate an already weakened supply chain.

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