itemprop=description content=(Kitco News) - Gold prices are solidly higher in early U.S. trading Monday, following the surprise Hamas attack on Israel over the weekend.
- Gold prices are solidly higher in early U.S. trading Monday, following the surprise Hamas attack on Israel over the weekend. Safe-haven demand is featured as the world has just seen an unexpected major geopolitical shock that has traders and investors spooked. December gold was las up $18.40 at $1,863.40 and December silver was up $0.047 at $21.77.
The major Middle East conflict will likely in the coming months impact major economies, including affecting central bank policies. There is also speculation the Israel war with Hamas may even impact the U.S. Congress and the process of selecting a new Speaker of the House of Representatives. The U.S. dollar and U.S. Treasuries are also seeing “flight-to-quality” buying amid the geopolitical crisis. Nymex crude oil prices are sharply higher and trading around $85.50 a barrel. The yield on the benchmark U.S. Treasury 10-year note yield is presently fetching 4.795%.Technically, the gold futures bears still have the firm overall near-term technical advantage.
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