Gold prices hit record high above $2,400 amid Middle East tensions

Gold prices rose above $2,400 per ounce to an all-time high on Friday, heading for their fourth week of gains, as growing tensions in the Middle East prompted investors to seek refuge in the safe-haven assets.

Spot gold eased 0.8% to $2,353.35 per ounce as of 1:40 p.m. ET (1740 GMT), taking a breather after hitting a record high of $2,419.79. Prices were up around 1% for the week.

U.S. gold futures settled 0.1% higher at $2,374.1.

Taking cues from gold’s upward momentum, platinum tested the key $1,000 per ounce level to its highest level in nearly four months.

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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