20 October 2023
The Federal Reserve’s restrictive monetary policy, aimed at combating inflation, has raised interest rates significantly since March 2022, impacting gold prices. Market insiders are closely watching for signs of the end of this rate hike cycle, which would bolster gold’s value. Meanwhile, escalating global tensions, especially Russia’s invasion of Ukraine and conflicts in the Middle East, are further influencing gold’s surge. As of October 9, following an Israeli invasion, gold nears $2,000 per ounce. These gold price increases are set against a backdrop of significant global unrest and tragedy.