Gold prices continued to rise on Thursday as geopolitical tensions between the US and China intensified, boosting global demand for the safe haven metal.
Spot gold climbed 1.5% to $1,790.65 per ounce by 12:30 p.m. ET, its highest in four weeks. US gold futures fared even better, up 1.7% to $1,807.00 per ounce.
The latest rally comes as the fallout from US House Speaker Nancy Pelosi’s visit to Taiwan keeps markets on edge. While anxiety eased somewhat after the trip ended, China has since started military drills in areas surrounding the island.
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