Gold Hits Record $2,400 as Middle East Tensions Heighten Gold prices soared to a new record high, surpassing $2,400 per ounce, amid escalating Middle East tensions and fears of retaliation following an Israeli strike in Syria. The surge in demand for gold, seen as a more reliable hedge against geopolitical risks than government bonds, was further fueled by U.S. inflation concerns, according to Mohamed A. El-Erian. Additionally, gold’s rise has been supported by increased purchases by central banks, including China, and speculation about potential Federal Reserve rate cuts in 2024, despite recent robust U.S. inflation data complicating the economic forecast. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts "Russian and Chinese are brothers forever" – Putin and Xi Challenge Western Dominance READ MORE Citigroup and BofA Bullish on Gold: Analysts Predict 25% Surge to $3,000 READ MORE Credit Markets Show Unwavering Strength Amid Rising US Inflation Concerns READ MORE Gold Prices Stabilize as Focus Turns to Upcoming US Economic Indicators READ MORE Gold, Silver & Bitcoin: Monthly Wrap with Alan Hibbard READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment