Investors Flock to Gold as Middle East Tensions Escalate, Dollar Tumbles Gold prices saw an increase on Wednesday, nearly touching their all-time highs, due to escalating tensions in the Middle East and a weakening U.S. dollar. The price of spot gold ascended by 0.2% to $2,388.56 per ounce, approaching its historical peak of $2,431.29. Conversely, U.S. gold futures experienced a slight decline of 0.1%, settling at $2,404.90. The rise in gold prices reflects investor sentiment seeking security amid growing geopolitical concerns, despite being technically overbought. Lukman Otunuga, a senior research analyst at FXTM, highlighted that the geopolitical instability is currently more influential on market dynamics than economic data or monetary policy expectations. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Jobless Claims Drop, Indicating Steady Employment Despite Recent Surge READ MORE The Alibaba Conundrum and Gold's Rally READ MORE Inflation Woes from Pandemic Keep Fed's Rate Cuts on Hold READ MORE The Paradox of Gold: Prices Soar While Retail Investors Step Back READ MORE Economic Showdown: Harris and Trump Clash in High-Stakes Philadelphia Debate READ MORE Add a Comment Cancel replyYour email address will not be published.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