Gold prices jumped 1% to their highest level in four months, yesterday, with events and tensions in the Middle East, which sparked a demand for safe havens.
"The news coming from the Middle East, as well as some purchase driven by technical factors, and the decline in the dollar, supports the price of gold," said Benjamin Low, an analyst at US futures contract clearing firm, Philip Futures.
The spot price of gold peaked since the fifth of September 2019 at $ 1543.66 an ounce, while US gold futures increased about 1% to $ 1543.3 an ounce.
Over the course of the week, gold rose about 2% in spot transactions, heading towards gains for the fourth week in a row.
Gold is considered a safe investment in times of political and economic uncertainty.
The metal was further supported, with the dollar dropping to a nine-week low against the Japanese yen, due to Middle East tensions as well.
In other precious metals, silver recorded its highest levels, in more than two months at $ 18.25, and increased in its latest price by 0.8% to $ 18.17 an ounce, while platinum rose 0.4%, recording $ 982.66, and headed towards weekly gains of about 4%.
And palladium advanced 0.3% to 1964.87 dollars, to be in the process of a weekly rise of more than 3%.
Gold rises 2% in spot transactions.