The easing of tensions in the Middle East has spurred a rise in gold prices
The price of the precious metal on the exchange has risen to $4,000 per ounce.
The global price of gold has begun to rise again, reaching $4,000 per ounce, Interfax reports.
According to the information, the precious metal experienced a significant price drop. In particular, the value of gold decreased by more than 2%, as investors recorded profits after an impressive rise in recent weeks. However, as of October 10th, the December gold futures quotations on the Comex exchange have risen to $4,012.5 per ounce.
It is noted that the profit fixation was triggered by signs of a decrease in tension in the Middle East. In particular, the agreement of Israel and Hamas on the first phase of the conflict resolution plan proposed by the US.
Earlier, it was reported that gold had renewed its historical price cap. At its peak, the price was over $3,900 per troy ounce.
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