Spot gold prices rose slightly by 0.3% to $4,493.63 per ounce in the Asian morning session, driven by rising geopolitical risks. Tensions escalated after Israel threatened to take action against Iran, which is working to rebuild its ballistic missile arsenal. A statement from Israeli Prime Minister Benjamin Netanyahu revealed that Israel continues to monitor the activities of Hamas, Hezbollah, and Iran, with potential action if the threat becomes more real.
Gold remains a top choice as a safe-haven asset, especially amid heightened global uncertainty. Joseph Dahrieh, managing director at Tickmill, explained that demand for gold remains strong as markets anticipate further tensions in the Middle East, Eastern Europe, Asia, and Latin America. This geopolitical tension has prompted many investors to protect their portfolios by buying gold.
With the growing uncertainty, gold prices are expected to continue to receive support throughout this year, as market movements are largely influenced by external risks. Tensions involving major powers, particularly in the Middle East, have further increased the appeal of gold as a safer investment option. (az)
Source: Newsmaker.id
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