Commodities
Gold Finds Footing Near $4,500 as Iran War Enters Fifth Week
A worker holds granules of gold at the Perth Mint Refinery in Perth, Australia.
Photographer: Matt Jelonek/BloombergGold gained for a second day as dip-buyers supported prices while the market awaited clarity on the duration of the Middle East conflict.
Bullion rose as much as 1.9% to trade above $4,500 an ounce before paring some gains, showing resilience despite a continued increase in oil prices. Investor have stepped in to take advantage of cheaper gold as inflation worries weighed on the metal.