Gold futures may challenge record highs as tensions in the Middle East intensify
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Planet Daily News: Following Israel's nighttime airstrike on Iran and Iran's subsequent drone counterattack, gold futures rose due to safe-haven demand, approaching the historical high of $3,509.90 per ounce set in mid-April. Tradu.com analyst Nikos Tzabouras wrote that gold prices might reach a new historical peak due to concerns about further escalation in the Middle East and uncertainties surrounding U.S. tariffs. However, the path to de-escalation and containment remains open. If tensions ease, gold prices might face a short-term downward adjustment. Nevertheless, considering the current risk-laden background, bullish momentum appears to be well-supported. (Jin Shi)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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