- Gold price reached a five-month high at $1997.16 per troy ounce after bouncing back from daily lows of $1972.12.
- Escalating Middle East conflict and attacks on US military bases in Iraq and Syria heighten investor anxiety.
- Dovish comments from Fed Chair Jerome Powell sparked Gold’s ascent on Friday.
Gold price was shy of testing the $2000 troy ounce barrier on Friday amidst increasing geopolitical risks, as the conflict between Israel and Hamas is briskly spreading toward more countries in the region. At the time of writing, XAU/USD is trading at around $1980.20 after the yellow metal bounced from daily lows of $1972.12
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