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Gold futures pullback after briefly approaching a historical high during the session.
Jin10 data June 16 news, data shows that gold futures pulled back after reaching near historical highs during the session, with futures prices falling 0.5%, reported at $3,433.90 per ounce. The previous contract’s Opening Price was close to the historical high of $3,509.90 per ounce. Analysts at the Dutch International Group pointed out in a report that last Friday’s escalation of tensions in the Middle East drove a surge in safe-haven demand, boosting precious metal prices. Analysts stated that if the conflict between Israel and Iran intensifies in the coming days, gold prices are expected to refresh historical highs.