Gold went up in price because of news from the Middle East, but then it went back down below $2,400. On Thursday, April 18, the price of gold futures contracts went up by 0.40%. This was part of its up-and-down movement that started last Friday when it reached a really high price of $2,448.80, but then went back down and ended up almost where it started.
This movement happened because of uncertainty in the Middle East and the strength of the US dollar. Yesterday, gold continued to be traded around the $2,400 mark.
Back on February 14, gold was at its lowest price since mid-December because of a report about consumer inflation. Since then, it has gone up by over $400.
This morning, the price of gold is going back down after going up overnight because of more trouble in the Middle East. Looking at the daily chart, we can see this movement. Gold is now 0.2% lower and trading below $2,400.
Other precious metals like silver, platinum, and palladium are also lower in price this morning, with silver down by 0.4%, platinum by 0.9%, and palladium by 2.3%. So, all the main precious metals are cheaper today.
