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Safe-haven gold rises 1%, heads for best week in a year - REUTERS

NOVEMBER 22, 2024

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  • Ukraine's military struck four Russian oil refineries
  • Bullion up over 5% for the week so far
  • Silver, platinum and palladium on track for weekly gains

Nov 22 (Reuters) - Gold prices rose 1% and were headed for their best week in a year on Friday, supported by safe-haven demand in the face of further escalation in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts.
Spot gold rose 1% to $2,696.76 per ounce as of 0800 GMT. Bullion is up more than 5% for the week so far, the most since early October 2023.
U.S. gold futures gained 0.9% to $2,699.30.

MARKET NEWS

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