Lates News

According to market analysis, as tensions intensify in the Middle East, investors are seeking safe havens causing the price of gold to rise. However, due to the strength of the US dollar, the price of gold has not yet broken through $5400 per ounce. BMI analysts stated, "As there is still no clear consensus on the duration of the conflict and related premiums, the market will continue to seek safe havens like gold." However, the rise in the US dollar index has made commodities priced in dollars more expensive for overseas buyers. At the same time, market participants indicate that due to the possibility of the Federal Reserve raising interest rates to deal with inflation pressures caused by the conflict, the price of gold was under pressure and experienced selling in the previous trading day.