Gold heads for biggest monthly rise since November

Gold steadied on Tuesday on caution ahead of the Federal Reserve’s policy meeting this week, but held on track for its biggest monthly rise since November last year as the Israel-Hamas war boosted safe-haven bets.

Spot gold was unchanged at $1,996.11 per ounce by 0910 GMT, having spiked as high as $2,009.29 on Friday. U.S. gold futures were also steady at $2,005.80.

Spot gold was at its lowest in almost eight months at $1,809.50 on Oct. 6, a day before Hamas’ attack on Israel. It is now on track for an 8% rise in October as investors bolted for safety amid the Middle East crisis.

London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.

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