The ongoing conflict in the Middle East, coupled with economic instability and inflation pressures, is expected to sustain upward momentum in gold prices, potentially driving them above $2700.
Historically, gold has performed well during periods of economic uncertainty and geopolitical tensions, similar to trends seen during past crises such as the 2008 financial crash and the pandemic.
The economic concerns of 2024—including central bank rate cuts and the state of key economies—suggest that gold will continue to thrive as a safe-haven asset.
With the threat of war looming and the dollar weakening, we can anticipate that gold prices will likely reach further all-time highs throughout October.
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