Gold jumps over 2% toward $5,400 after US, Israel attack Iran
Trending Articles- Gold rises to near $5,150 as Trump’s tariffs boost haven demand, US-Iran talks eyed
- Top 3 Price Prediction: BTC breakdown hints at deeper correction as ETH and XRP extend losses
- Gold rises to near $5,200 amid US tariff uncertainty, US PPI data in focus
- Gold climbs above $5,200 on geopolitical tensions, trade uncertainty
- Gold gains above $5,150 as US tariff uncertainty drive demand, eyes on US-Iran talks
- Oil prices rise as US and Iran extend talks into next week
Gold is on fire at the start of the week, a widely expected move, as investors seek harbor in the traditional store of value, following the continued US and Israel attacks on Iran.
The bright metal opened with a bullish gap of about $17 and rallied toward the $5,400 level as Asian traders hit their desks and reacted negatively to the weekend news of the Middle East conflict, rushing for cover in Gold.
At the time of writing, Gold is up 1.50% on the day at around $5,350, with traders closely monitoring the situation to gauge how long the conflict may last.
Iran has stopped oil shipments through the Strait of Hormuz, spiking up oil prices and driving expectations of higher inflation, which bodes well for the so-called hedge against inflation – Gold.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
