Daily Gold Market Report
Safe-Haven Appeal Drives Gold Above $2000
Middle East Warfare and Fed’s Upcoming Rate Decision Fuel Market Momentum
(USAGOLD – 10/30/2023) On Friday, gold prices surged and closed at around $2006 per ounce, marking a notable increase and reflecting the heightened tensions in the Middle East. Gold is trading at $2001.04 this morning, down $5.33. Silver is trading at $23.52, up 40 cents. The surging prices were indicative of the metals’ best weekly performance in seven months, fueled not only by geopolitical unrest but also by the speculation around U.S. interest rates which are expected to be addressed by the Federal Reserve in the upcoming meeting on Wednesday.