Gold closes higher for third day in a row as geopolitical tensions mount

Gold prices rose for the third session in a row amid a negative stability of the dollar against most of the major currencies and the mounting geopolitical tensions that casted its shadow over global markets.

There was concerns in the markets after the attack on two oil tankers in the Gulf of Oman, resulting in an explosion, which led US Secretary of State "Mike Pompeo" to state that Iran is behind the attack, and that Washington will not tolerate these acts.

This comes as concerns over the trade war between Washington and Beijing continue, while markets look forward to the G20 summit and the expected meeting between US and Chinese presidents.

On the other hand, the dollar index (against a number of major currencies) stabilized by 96.9 points at 18:59 GMT, recording a high of 97.08 points and a low of 96.8 points.

In the session close, gold futures (August delivery) rose 0.5% to close at $1343.7 per ounce, with a high of $1347 and a low of $1335.9.