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Gold Rebounds Above USD4,600
(MENAFN) Gold prices climbed by more than 2% on Tuesday, surpassing the $4,600-per-ounce level, as investors increasingly sought refuge in safer assets due to ongoing uncertainty linked to the US Federal Reserve and heightened geopolitical tensions.
The valuable metal was trading at approximately $4,614.90 per ounce as of 1405 GMT, bolstered by strong demand for safe-haven investments and growing expectations that interest rates may eventually decline. Meanwhile, US gold futures also moved upward, closing roughly 2.5% higher at $4,614.70.
Despite this rebound, gold has declined by nearly 12% since the conflict that began on Feb. 28, and it remains significantly below its record peak of $5,595 per ounce reached in January 2026.
In the previous week, gold experienced its steepest weekly decline since 1983, dropping by more than 10%.
Silver prices also followed an upward trend, with the cost per ounce rising by over 5.3% to reach $73.75.
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