Gold prices rise again in 2 days!

After two consecutive days of decline, gold prices rose again in the global market on Thursday. Gold prices rose more than 1 percent due to the intensification of geopolitical tensions and increased demand for safe investments. Investors are showing more interest in important US inflation data to be released next Friday.

Spot gold prices reached $ 4,043.80 per ounce at 9:21 am New York time. Earlier, gold prices fell to their lowest level in almost two weeks. US gold futures prices for delivery in December rose 2.3 percent to $ 4,160.50 per ounce.

Gold prices reached a record high of $ 4,381.21 per ounce last Monday, but the next day it faced its biggest decline in the last five years. Analysts say geopolitical instability, global economic uncertainty, expectations of interest rate cuts and central bank buying activity in various countries have all contributed to a 57 percent increase in gold prices this year.

JPMorgan predicts that if investor demand and central bank buying continue, gold prices could average $5,055 per ounce in the fourth quarter of 2026.

Among other precious metals, spot silver rose 1.6 percent to $49.29 per ounce, platinum rose 1.2 percent to $1,640.61 and palladium fell 0.1 percent to $1,457.08.