Spot gold prices increase as threat of conflict escalation propels the market

October 19, 2023

PUBLISHED : 19 Oct 2023 at 06:45

Spot gold prices rose by nearly 0.8% from $1,924 to a four-week high of $1,938 per ounce on Wednesday.

Gold could trade in a range of US$1,950-1,960 per ounce as war in the Middle East intensifies and hopes for diplomatic talks fade after a deadly explosion at a Gaza hospital, according to analysts.

Spot gold prices shot up by nearly 0.8% from $1,924 to a four-week high of $1,938 per ounce on Wednesday after the Gaza hospital bombing that left hundreds dead, causing…