Gold jumps over 2% toward $5,400 after US, Israel attack Iran
Trending Articles- Today’s Market Recap: US and Iran Signal Willingness to End Conflict, Three Major US Stock Indexes Surge, Dollar Ends Five-Day Winning Streak
- Trump Withdrawal Intent Reshapes Liquidity, Bitcoin Breaks $68,000 Mark
- Trump National Address ‘About-Face,’ Bitcoin Slumps Back to $66,000
- Gold Second-Quarter Outlook: Safe-Haven Failure or Pricing Logic Reshaping? Can Gold Enter a Major Rally?
- Gold Price Forecast: XAU/USD opens lower around $4,450 on fears of widening Iran conflicts
- USD/JPY Hits 160.00 Mark, Will Japanese Government Intervene? Will the Currency’s Rally Be Contained?
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.
