Gold appreciates on Middle East tensions

During January 3-5, gold appreciated 2.52% or 3898 pips against the US Dollar. The price for gold hit the seven-year high at 1,587.92.

The reason for the advance was the escalating tensions on the Middle East. On December 29, the US conducted airstrikes in Iraq and Syria during which the Iranian military commander Qasem Suleimani was killed. 

Teheran has already threatened to avenge. Also, Iraq's Parliament has voted 170-0 on the US forces expellant. As the result, the US President Donald Trump threatened to impose sanctions on both countries.