Gold is at its highest level since May 2013

Date of release: 2019/7/19 10:50

{International: Al Furat News} Gold on Friday surpassed the $ 1450 level that is important for the first time since May 2013, after comments by a senior Federal Reserve official boosted expectations of lower interest rates, while the yellow metal received support from fresh tensions in the East Middle.

Spot gold hit $ 1452.60 an ounce in early trade, its highest level since May 10, 2013, before falling 0.3 percent to $ 1442.35 by 0543 GMT.

The precious metal has gained nearly 2 percent since the beginning of this week and is heading towards its second consecutive weekly gain.

Gold in US futures futures jumped 1.2 percent to $ 1444.70 an ounce

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