Gold Hits Near 2-Month High as Middle East Conflict Boots Saf-Haven Demand

(Reuters) -Gold rose for a fourth straight session to a near two -month high on Monday, as intensified clashes between israel and ran over the weeked stoked fears of a broader regional conflict, pushaing Investors Towards Safe-Haven Assets.

Spot Gold Gained 0.3% to $ 3,442.09 an oourage, as of 0246 gmt, after Hitting Its Highest Level Since April 22 Earlier in the Session.

Us Gold Futures Advanced 0.3% to $ 3,461.90.

“It’s the joint political risk premium that’s rising due to the Iran-Israel Conflict at this point that is boosted safe-han demand for gold,” Said kelvin won, a Senior Market Analyst, ASI PACFICET ATI Oanda.

“We have a clear break Above $ 3,400 right now and the short term uptrend is intact.

Israel and Iran Launched Fresh Attacks on Sunday, Killing and Wounding Civilians and Raising Concerns of a Broader Regional Conflict, with Militaries Urging Civilians On the opposing side to tax Against further strikes.

Us President Donald Trump Said He Hopes israel and Iran Can Broker a Deal But Said Sometimes Countries have to fight it out first.

Gold often Considered a Safe-Hen Asset during Times of Geopolitical and Economic Uncerty.

Investors this week will look forward to host of Central Bank Monetary Policy Decisions, with the Spotlight on the Us Federal Reserve on Wedns.

The US Central Bank is widely anticipated to keep interest rates steady, with markets awaiting for signals on potential rates in the months ahead.

Futures Markets Sugged Expectations for Two Rate Cuts By Year-Ed, Possibly Starting in September, Bolsted by Tame Inflation Data Last Week. [FEDWATCH]

Elsewhere, SPOT SILVER SCEADY at $ 36.29 per O place, platinum rose 0.4% to $ 1,233.87, While Palladium Gained 1.3% to $ 1,040.96.

(Reporting by brijesh patel and anmol choubey in Bengaluru; Editing by Rashmi Aich)