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Gold Rises Over 1% as Middle East Tensions Boost Safe-Haven DemandSingapore, 4 Mar (ONA) – Gold prices rose more than 1% today, rebounding from their lowest level in over a week recorded in the previous session, as escalating US and Israeli airstrikes on Iran boosted demand for safe-haven assets. Spot gold climbed 1.6% to $5,168.69 per ounce. US gold futures for April delivery also rose 1.1% to $5,178.40 per ounce. Gold had fallen more than 4% on Tuesday, hitting its lowest level since February 20, pressured by a stronger US dollar and fading expectations of interest rate cuts amid rising concerns about inflation linked to the ongoing conflict in the Middle East. Among other precious metals, spot silver rose 3.5% to $84.92 per ounce after dropping more than 8% in the previous session.Platinum gained 2.7% in spot trading to $2,139.56 per ounce, while palladium climbed 1.6% to $1,673.87 per ounce. —Ends/AG
