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 Money vs. Currency: The Great Gold & Silver Rush READ MORE India Grants RBI Levy-Free Gold Imports READ MORE Inflation's Persistence Creates Dilemma for Federal Reserve READ MORE Post-Biden Exit: Markets Seek Direction from Earnings and Economic Indicators READ MORE Food Wars Loom as Nations Hoard Supplies, Warns Agricultural Trader READ MORE Add a Comment Cancel replyYour email address will not be published.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