Escalating geopolitical tensions in the Middle East have spooked markets, with investors seeking safety in traditional safe-haven assets such as gold prices, the U.S. dollar and U.S. Treasury bonds.
Gold prices also rose amid worries that geopolitical conflicts could lead to another spike in oil prices, threatening global inflation and the economic outlook. Oil prices have surged more than 4% in response to the conflict in the Middle East.
Gold futures rebounded above $1,850 an ounce. As long as this rally continues, gold is likely to continue rising.
However, it is worth noting that while gold is rising, the US dollar is also breaking through highs, which will be a major hidden danger against the rise of gold.
Gold prices also rose amid worries that geopolitical conflicts could lead to another spike in oil prices, threatening global inflation and the economic outlook. Oil prices have surged more than 4% in response to the conflict in the Middle East.
Gold futures rebounded above $1,850 an ounce. As long as this rally continues, gold is likely to continue rising.
However, it is worth noting that while gold is rising, the US dollar is also breaking through highs, which will be a major hidden danger against the rise of gold.
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It has currently risen to 1873 and is still making profits. We will continue to follow up.
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