Gold prices rose slightly on Thursday, extending for a second consecutive day, just a few steps away from the $ 1,300 per ounce barrier as investment demand for safe haven assets rebounds, as well as weaker US interest rates this year.
Gold prices rose by 0.1% as of 10:15 GMT to trade at $ 1,294.95 per ounce from the opening level of $ 1,293.94 and recorded the highest level of $ 1,295.35 and the lowest level of $ 1,291.32.
Gold prices ended yesterday’s trading up 0.3%, the third gain in the last four days, supported by improved investment demand for the metal as a safe haven, after rising risk about the secession of Britain from the European Union.
Gold were only a few steps away from reaching the $ 1,300 per ounce barrier, supported by the current high investment demand for safe assets, as fears of a global economic slowdown persisted and risks for the political situation in Europe increased. European Union.
The price of the yellow metal also supports the weakness of the Fed’s chances of raising US interest rates this year as data on the world’s largest economy continues to decline as the cautious tone of US monetary policy makers rises due to rising risks to the economy.
Gold holdings in the SPDR Gold Trust Fund The largest gold-backed global index funds remained unchanged for the fourth day in a row for a total of 797.71 metric tons.