Gold Extends Gains as Dip-Buyers Shrug Off US-Iran Escalation
Gold prices rose above $4,100 an ounce, driven by dip-buyers despite escalating US-Iran tensions. The increase followed a nearly 2% gain in the previous session and marked the highest daily inflow into exchange-traded funds in over a month, with total holdings up by 7.4 tons. Analysts note that while gold's rally continues, concerns about elevated borrowing costs and geopolitical instability persist, affecting market dynamics.