Gold prices at record levels amid tension in the Middle East

Gold prices have risen to a new historical level to more than $ 3017 an ounce, as investors have evaluated US data that fueled economic slowdown concerns, while the tensions in the midst of the east strengthened the attractiveness of the precious metal as a safe haven. Gold prices rose slightly after rising 0.6% on Monday, after Israel announced on Tuesday that it had launched raids on targets, “Hamas” in Gaza, in a step that threatens to undermine the fragile ceasefire. Residents in the strip reported that Israeli aviation has launched several raids on different parts of Gaza. Traders tried to understand the reading of US retail sales data, which rose less in February, according to a report released on Monday. US Treasury bonds have dropped ten years, which also contributed not to improve interest. Although the figures indicated poor expenses to goods, there were no indications of a sharp decline, and the data did not affect the bets of traders about the expectations of reducing interest rates by the federal reserve. Note that companies, investors and economists, with the morale of the consumer, and signs of financial pressure have increased, amid the risk of increasing commercial wars set on fire by US President Donald Trump. Bread economic expectations have strengthened the dark expectations of the US and global economies the role of gold as a storage of value in times of uncertainty. The metal has increased by more than 14% since the beginning of the year, extending its strong profits during the year 2024. Several major banks have increased their forecast for the price of gold over the past few weeks. The Instant Gold Price settled in Singapore at $ 3014.06 at 1:05 p.m., after rising to a level above 3005 for the first time. The “Bloomberg” index of the dollar rose 0.1%, while the prices of silver stabilized, and the prices of platinum and palsmium rose.