Domestic gold price
Domestic gold price developments
World gold price developments
World gold prices fell slightly as the USD increased. Recorded at 23:35 on October 18, the US Dollar Index measuring the greenback's fluctuations against 6 major currencies was at 106.410 points (up 0.34%).
Gold prices held steady after an explosion that killed hundreds of people in the Gaza Strip raised concerns about an escalation of the conflict and maintained the appeal of safe-haven assets.
Gold prices rose sharply due to concerns about prolonged conflict, and the risk of stagnant inflation amid high oil prices, said Kelvin Wong, Asia- Pacific market analyst at OANDA.
Meanwhile, IG market strategist Yeap Jun Rong said the risk of conflict escalation could support gold prices for now, but the $1,945/ounce threshold would be difficult to overcome.
Stock markets across Asia fell on Friday as investors watched a recovery in oil prices, escalating tensions in the Middle East and rising UK inflation.
Japan's Nikkei 225 index rose 1.96 points to close at 32,042.25 points, as investors watched developments in the Middle East and US economic data that raised the possibility of the US Federal Reserve continuing to raise interest rates.
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