In a tumultuous year for markets, gold has surged, achieving an all-time high of $3,017.64 per ounce. The spike is attributed to heightened geopolitical tensions in the Middle East and apprehension regarding a potential trade war involving the United States and China. With the dollar weakening, investors are flocking to gold as a refuge for their capital, pushing demand for the precious metal to unprecedented levels. This marks a significant increase, with gold's price up 15% for the year and doubling over five years.
This morning, the precious metal has hit a fresh all-time high above $3,000 per ounce, driven by escalating geopolitical tensions in the Middle East and trade war fears.
Gold has climbed by 15% since the start of this year, having ended December at $2,623/ounce, adding to its 27% surge during 2024.
As analysts at Deutsche Bank put it: Investors continue to rotate away from the US dollar and find perceived safe havens amidst the heightened policy uncertainty.
Rising tensions in the Middle East and the escalating U.S.-China trade conflict have driven investors toward gold as a safe investment channel.
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