Gold prices have resumed their rise, surpassing the $5,000 mark again, driven by escalating tensions between the United States and Iran.
Spot gold increased 2.7 percent to $5,071.79 per ounce, following a 5.9 percent jump on Tuesday, the largest daily gain since November 2008. Gold had reached a record level of $5,594.82 last Thursday.
U.S. gold futures for April delivery rose 3.2 percent to $5,092 per ounce.
Other precious metals also advanced. Spot silver rose 3.2 percent to $87.84 per ounce. Spot platinum gained 2.9 percent to $2,273.97 per ounce after hitting an all-time high of $2,918.80 on January 26. Palladium increased 3 percent to $1,784.67 per ounce.
Spot gold increased 2.7 percent to $5,071.79 per ounce, following a 5.9 percent jump on Tuesday, the largest daily gain since November 2008. Gold had reached a record level of $5,594.82 last Thursday.
U.S. gold futures for April delivery rose 3.2 percent to $5,092 per ounce.
Other precious metals also advanced. Spot silver rose 3.2 percent to $87.84 per ounce. Spot platinum gained 2.9 percent to $2,273.97 per ounce after hitting an all-time high of $2,918.80 on January 26. Palladium increased 3 percent to $1,784.67 per ounce.
