Gold News – 02.Oct.2024
Gold News
Gold Price Movement: Gold rose more than 1.2% on Tuesday, reaching a high of $2,673, just $22 below the all-time record of $2,685 set on September 26.
Geopolitical Influence: The surge in gold prices was driven by escalating Middle East tensions after Iran launched a surprise missile attack on Israel, hours after Israeli Prime Minister Netanyahu ordered a ground offensive in Lebanon targeting Hezbollah.
Market Sentiment: The conflict has shaken investor confidence, increasing demand for safe-haven assets like gold.
Outlook: Early Wednesday, gold prices remained well-bid around $2,650 as markets assess whether tensions will ease or further escalate into a broader conflict, potentially impacting global market stability.
Author : Arman Shaban
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