Gold prices hit near seven-year highs on Wednesday before declining to stay above the key $1,500 support as President Donald Trump refrained from escalating the United States’ conflict with Iran after Tehran launched missile attacks on US-Iraqi airbases without killing anyone.

Gold futures for February delivery on New York’s COMEX was down $11.35, or 0.7 percent, at $1,562.95 per ounce by 1:25 PM ET (18:25 GMT). They earlier hit $1,612.95, the highest since March 2013.



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