Gold spikes amidst stress however can’t get rid of weekly losses
Gold gains 0.67% in late session, however geopolitical strife keeps it above $2,600 in spite of regular monthly losses.
Escalation in Russia-Ukraine dispute and Middle East stress highlight Gold's safe-haven appeal.
Market optimism grows for a 25 bps Fed rate cut in December, boosting Bullion's short-term potential customers.
Gold's rate advanced late throughout the North American session on Friday, up by 0.67%, yet it stays set to print month-to-month losses of over 3%. Geopolitical threats continue to drive rate action with the non-yielding metal varying at around $2,600. The XAU/USD trades at $2,652 after striking a daily low of $2,634.
Geopolitical stress relieved in the Middle East after Israel and Lebanon accepted a ceasefire. Both nations implicated each other of breaking the...