Gold rose for a second straight session as safe-haven demand picked up, although prices were headed for a monthly decline as the Middle East conflict drove expectations of inflation and higher global interest rates.
Strategy, the largest public Bitcoin treasury company, reported no additional purchases of the cryptocurrency last week as many entities are pivoting into alternative methods for revenue. In a filing with the US SEC, Michael Saylor-led Strategy reported that it did not purchase any Bitcoin nor sell any shares last week.
Benchmark oil prices extended gains toward their largest ever monthly increase, as major Wall Street indexes were mixed in choppy trade and investors focused on the war on Iran that they fear will drive inflation and raise the risk of recession across the globe.
Oil prices rose to end last week, driven by a lack of progress in bringing an end to the four-week-old Middle East conflict that is beginning to sap consumer and business confidence.
Gold demand in India saw a slight uptick this week as softer bullion prices attracted some buyers, though many remained cautious and held off for further price drop, while premiums in China narrowed as physical demand slowed.
