Gold Price News and Forecast: XAU/USD rises to four-month highs on US-Iran confrontation in Iraq
|Gold nears three-month top amid fresh trade/geopolitical concerns, USD recovery
Gold prices take the bids around $1,529 during Friday’s Asian session. The yellow metal surged to the highest since late-September the previous day. In doing so, it ignored the US dollar (USD) recovery and nearness to the US-China phase-one deal.
Although the US and China are near to signing the phase-one deal on January 15, doubts over the phase-two talks crossed wires via The Hill.
Gold rises to four-month highs on US-Iran confrontation in Iraq
Gold, a classic haven asset, has jumped to four-month highs with the US and Iran moving closer to open confrontation in Iraq.
The yellow metal is currently trading at $1,539 per Oz, the highest level since Sept. 5, representing a 0.63% gain on the day. The US launched an airstrike on Baghdad airport on Friday, killing Iran's most celebrated military official Qassem Soleimani.
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