Gold nears two-week high as Fed outlook, Middle East conflict stay in focus

Spot gold rose 0.9 percent to 4,113.73 dollars per ounce, nearing a two-week high, as investors weighed the Federal Reserve's outlook and escalating Middle East tensions. Oil prices climbed over 1 percent to near six-week highs after Iran-aligned Houthis threatened shipping in the Red Sea, with two Saudi crude tankers reversing course. Silver gained 1.8 percent, while platinum and palladium each rose about 1.6 percent amid broad safe-haven and supply-risk buying.