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PT Solid Gold Berjangka | Gold Steady After Two-Day Gain as Israel Conflict Aids Demand

01:57 27 October in Commodity, Gold, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP
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SOLID GOLD BERJANGKA | Gold was steady after two days of gains as the conflict in the Middle East continues to offer support for the precious metal, although choppy moves in Treasuries are muddying the outlook.

Bullion has risen about 8% since the Oct. 7 attacks by Hamas on Israel increased demand for safe haven assets, amid concerns that the war could escalate. Iran’s foreign minister said the US won’t escape unaffected if the conflict widens, after Washington said Tehran was ultimately to blame for a spate of drone attacks on American forces.

The US economy accelerated at the fastest pace since 2021 last quarter, data showed Thursday, with gold paring gains after the figures. A surge in Treasury yields since May has weighed on the precious metal, which doesn’t offer any interest.

Spot gold was steady at $1,984.89 an ounce as of 9:36 a.m. in Singapore and is little changed this week. The Bloomberg Dollar Spot Index was flat. Silver was steady while silver, palladium and platinum edged higher.

Source : Bloomberg , PT SGB, SOLID GOLD BERJANGKA, SOLID GROUP

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