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The price of gold rose on Monday after the sharp drop in the previous session, as metal benefited from tensions in the Middle East and weak financial markets, but the rising dollar slows gains.
The price of spot gold rose 0.2% to 1427.88 dollars an ounce at 0524 GMT. The metal hit $ 1452.60 in the previous session, its highest level since May 2013, before closing down 1.5%.
At the same time, Asian stock markets tumbled on Monday as investors canceled expectations of a significant interest rate cut by the Federal Reserve.
The possibility of a decline in interest rates by the US central bank has pushed the dollar higher, increasing the cost of gold for investors of other currency holders.
Among the other precious metals, silver rose 1% to 16.37 dollars an ounce.
Platinum rose 0.9% to $ 850.97 an ounce and 0.8% palladium to $ 1517.62.
This is the detail of the news according to which the Iranian tensions raise the price of gold. And the dollar weakening today's earnings, we hope to have given you details and complete information and that to follow all our news, you can subscribe to system alerts or to one of our different systems for you provide all the novelties.
It should also be noted that the original story was published and published on Watts Kingdom. The Gulf 365 editorial team has verified it and maybe modified it. It may have been fully transcribed or quoted. You can read and track the source of this information from its source.
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