Gold Rises Above $5,000 Again

Gold prices continued their gains on Wednesday, supported by their appeal as a safe-haven asset, after renewed geopolitical tensions between the United States and Iran helped fuel the latest surge in the yellow metal, which posted its best daily performance since 2008 in the previous session.

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Spot gold rose 2.7% to $5,071.79 per ounce as of 03:53 GMT, after jumping 5.9% on Tuesday—its largest one-day gain since November 2008. Gold had reached a record high of $5,594.82 last Thursday.

U.S. gold futures for April delivery climbed 3.2% to $5,092 per ounce.

Reuters