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 High Food Prices Push Americans into Debt for Essentials like Groceries READ MORE Gold Tops $2,300 — Silver Reaches $27 READ MORE Fed Rate Cut Hopes Dampened by Persistent Inflation and Strong Job Growth READ MORE Revolutionize Your Portfolio with Gold, Silver, and Bitcoin READ MORE Stronger Jobs Data Triggers Over 2% Decline in Gold Prices READ MORE Add a Comment Cancel replyYour email address will not be published.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