The bottom scavenging activity pushed the price of gold to its highest level in a week. Meanwhile, traders are closely monitoring developments in the Middle East, looking for signs of the impact of energy prices on inflation. At one point, the price of gold rose 1.9% to above $4,080 per ounce, and closed down 0.2% on the previous trading day. The US military launched a new round of air strikes against Iranian targets, and US President Trump vowed that Tehran would pay the price of killing three American soldiers. The Yemeni Houthis, supported by Iran, threatened to impose a naval blockade on Saudi Arabia. The Saudi-led coalition said it would resolutely respond to the threat of the Houthis and said it had taken measures to protect ships sailing in the Red Sea.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.