Gold prices in Monday’s Asian trading showed a notable increase. Spot gold rose 0.2 percent, reaching $2,053.88 per ounce, while gold futures for February climbed by 0.3 percent to $2,057.85 per ounce. These figures are as of 05:27 GMT.
This upward trend reflects a recovery of most losses since the beginning of the year, primarily driven by persistent geopolitical tensions in the Middle East. The tensions have amplified the demand for gold, which investors consider a safe-haven asset.
Apart from the geopolitical conflicts, the ongoing speculation about early interest rate cuts by the U.S. Federal Reserve(Fed) further boosts the gold price movement.
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.