Gold prices continued to rise Thursday morning on increased risk aversion and a stable euro.

Conflict in the Middle East, weaker stocks and signs that the dollar has topped out at 12-year highs have boosted gold’s appeal this week.

U.S. gold for May was up $10 at $1210 an ounce, rising further from a recent 5-month low near $1140.

May silver cents was up 7 cents at $17.07 an ounce, although well off its early highs near $17.30.

Tensions have escalated in the Middle East after Saudi Arabia launched air strikes in a bid to stop rebels from taking over the government in Yemen.

Gold rose despite hawkish commentary from St. Louis Fed President James Bullard, who said the Federal Reserve should normalize interest rates as the U.S. economy continues to improve.

Speaking in Germany, Bullard stood by the Fed’s decision last week to remove its pledge to remain patient before hiking interest rates.

The material has been provided by InstaForex Company –