Gold nears record high amid Middle East conflict
Gold just shot up close to its all-time high, now trading around $3,441 per ounce. The main reason? Rising tensions between Israel and Iran are making people nervous about the global economy.
What's driving the surge?
Whenever things get uncertain in the world, gold becomes a go-to safe haven—basically, people trust it to hold value when everything else feels shaky. Central banks are also moving away from the US dollar and buying more gold. Plus, weak US economic data has many expecting interest rate cuts soon, which usually helps gold prices climb.
Gold could hit $4,000/ounce mark soon
Experts think these trends could push gold even higher—possibly up to $4,000 per ounce by 2026. Over the past five years, gold has proven itself as a steady bet for anyone looking to protect their money during inflation or unpredictable times.