23 October 2024
Gold prices has once again surged to new record highs, driven by geopolitical tensions in the Middle East and uncertainty surrounding the upcoming U.S. presidential election. The metal reached $2,758.49 on Wednesday, reflecting investors’ flight to safety amidst fears of escalating conflicts between Israel and Iran and a tight election race in the U.S. This bullish sentiment has also impacted other precious metals, with silver nearing $35 an ounce for the first time since 2012. Despite pressure from rising U.S. government bond yields, gold’s appeal remains strong due to its safe-haven status and expectations of further price increases in the coming months.