The XAU/USD pair gained more than $30 last week supported by the broad-based USD weakness and closed at $1511. With the poor performance of major Asian equity indexes and heightened geopolitical tensions in the Middle East, the pair stretched higher at the start of the week and renewed its best level in more than two months at $1515.90 before going into a consolidation phase. As of writing, the pair was up only 0.10% on the day at $1515.70.
Reports revealing US airstrikes against the Iranian-backed Kataib Hezbollah militia in Syria and Iraq over the weekend caused geopolitical tensions to escalate on Monday. According to Iranian state news agency IRNA, "US military aggression against Iraqi soil and Iraqi forces is strongly condemned as a clear example of terrorism," Iranian Foreign Ministry spokesman Abbas Mousavi said. Today last price 1512.46 Today Daily Change 1.59 Today Daily Change % 0.11 Today daily open 1510.87