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On Monday (June 23), gold prices saw a slight rise due to the increasing tension between Iran and the US. Investors have moved to safe options to avoid risk. The spot gold rose 0.1 percent to $ 3,371.30 an ounce, while the US gold futures remained stable at $ 3,387.20. The market eyes are on possible retaliation from Iran, which has raised the concern of investors.
Demand for safe investment increased due to Middle East crisis
The United States and Israel have attacked Iran’s atomic bases, which feared regional conflicts and deepening. President Donald Trump has warned that if Iran retaliates, the US will do more attacks. Since then, investors confidence has increased on safe assets like gold rather than stock markets. Missile attacks and fears of military action have strengthened the demand for gold as risk prevention.
Impact of Fede policies and global economic uncertainty
Differences over interest rates in the Federal Reserve and high levels of inflation have also increased the market volatility. The uncertainty over the US economic policy and the removal of the fed chair by President Trump has further alerted investors. According to reports, the labor market remains strong but there is no clarity on policies. For all these reasons, investors have turned to it, considering gold as a safe and stable option.
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