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April 19 - Gold prices rose on Friday and were poised for a fifth straight week of gains, as investors rushed to the safe-haven asset as escalating tensions between Iran and Israel fuelled fears of a wider regional conflict.
"The geopolitical situation with retaliation of Iran and the latest attack in the Iranian state has raised the risk that the conflict will escalate and is helping safe-haven gold," said Quantitative Commodity Research analyst Peter Fertig. Commerzbank said in a note that it expects gold to end the year at $2,300 compared with $2,200 previously, although it remains sceptical about the further upside potential as gold's rise runs counter to the trend in U.S. rate expectations.Gold, which has notched strong gains this year, will rise further on robust Chinese demand outlook and macro uncertainties, Chinese state-backed research house Antaike said.
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