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Chaos in the Middle East drives gold to record weekly close above $3,400
Chaos in the Middle East is fueling renewed safe-haven demand for gold, pushing prices above $3,400 an ounce and resulting in the highest weekly close on record. Although gold prices have broken near-term resistance, analysts remain cautious about calling new all-time highs for the precious metal next week. While the ongoing conflict between Israel and Iran provides safe-haven support, rallies driven by geopolitical events have historically proven to be short-lived. “An Israel/Iran conflict may sustain prices above $3,400, but won’t send them higher without further escalation,” said Ole Hansen, Head of ... (full story)
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- Jun 14, 2025 6:57am Posted byFundamental Analysis422
