Reuters reported that tensions between Saudi Arabia and Iran pushed gold prices up on Monday. A drop in stock markets around the world also pushed investors towards the yellow metal.
As quoted in the publication:
Spot gold was up 1.9% at $1,080.30 an ounce, off an earlier high of $1,081.50, while U.S. gold futures for February delivery were up $19.40 an ounce at $1,079.60. Spot gold is currently on track for its biggest one-day rise in a month.
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