Gold hits Record High over 3,000 US dollars in the middle of increasing geopolitical tensions and weakening of the US dollar -Business Live | Business

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It was a record year for gold because nerve investors were looking for Safe-Haven assets.

And this morning the precious metal has reached a fresh all-time high over $ 3,000 per ounce, which is powered by escalating geopolitical tensions in the Middle East, the fears of war and the weakening of the US dollar.

Gold touched 3,017.64 US dollars per ounce when the news broke that the Israeli armed forces started widespread strikes for destinations in Gaza this morning, which led to fears that the shaky ceasefire in the region is over.

This means that gold has risen by 15% since the beginning of this year after it ended in December with $ 2,623 per ounce, which increased to its 27% increase in 2024.

As this table shows, it has now doubled in the past five years:

The recent weakness of the US dollar has also increased the gold price. The Greenback acts near a five -month low against a basket of other currencies, since traders fear that Donald Trump's enthusiasm for tariffs will trigger a full -grown trade war that the United States could bring into a recession.

As analysts at German bank Set it out:

Investors continue to turn off the US dollar and find safe ports perceived in the middle of the increased political uncertainty.

Linh tranMarket analyst at Xs.com, Reports that rising tensions in the Middle East and the escalating US China trade conflicts have driven both investors towards gold as a safe investment channel, and added:

These uncertainties have not only increased the demand for gold, but also brought considerable capital inflows into the market for precious metals, which contributes to the fact that gold reaches prices.

The agenda

• 9.30 a.m.: Ons publishes changes in the British inflation basket

• 10 a.m. GMT: ZWEW Eurozone Economic Confidence Survey

• 12.30 p.m. GMT: US apartment construction/building enables data for February

• 1:15 p.m. GMT: US industry production for February