Gold Hits 5-Week High as Mid East Tensions Flare

Reuters reports that gold prices rose to five-week highs as rising tensions in the Middle East region added to motivation from a retreat in the dollar and growing concerns over rising inflation.

The market news is quoted as saying:

Gold is set for its strongest weekly performance since the start of the year as unrest in the region spread, boosting other perceived safe-haven assets like the Swiss franc, which rose 0.9 percent on the day and U.S. Treasuries.

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