Gold holds steady amid Middle East tensions. Spot gold remained stable at $5,076.09 per ounce Friday as investors cautiously assessed the broader economic impact of escalating Middle East conflict. U.S. gold futures for April delivery rose 0.1% to $5,084.50. The precious metal, traditionally viewed as a safe-haven asset, has surged approximately 18% this year amid heightened geopolitical uncertainty and economic concerns. A weaker U.S. dollar also supported bullion prices, making gold less expensive for international buyers. Energy markets experienced significant volatility as regional disruptions affected global supplies and shipping routes. Major Middle Eastern oil producers have begun cutting production in response. Markets anticipate the Federal Reserve will maintain steady interest rates at its March 18 meeting conclusion.
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