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      Gold Prices Reach Three-Month High Amid Geopolitical Tensions

      Gold prices surged to a three-month high, trading above $4,640 an ounce, as investors sought safe-haven assets amid escalating geopolitical tensions and economic uncertainties. The increase in gold prices comes as India reported a doubling of gold imports in July, signaling a recovery in demand, according to the World Gold Council.

      Market sentiment remains cautious as the U.S. and Canada face a prolonged trade impasse, with no negotiations currently scheduled. The Canadian government is preparing an aid package to support local businesses, anticipating a drawn-out period without resolution. Meanwhile, tensions with Iran have escalated, with the U.S. Treasury Secretary set to announce what has been described as the toughest sanctions in history against Tehran, further complicating the global economic landscape.

      In Asia-Pacific markets, equities opened lower, reflecting the weight of these developments. The KOSPI index in South Korea fell as much as 3% intraday, while Japan's Nikkei 225 also opened down. In New Zealand, retail sales contracted by 0.5% in the second quarter, marking the first decline since Q3 2024, ahead of an anticipated rate hike by the Reserve Bank. Amid this backdrop, gold's rise highlights the ongoing search for stability in a volatile market.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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