Live Chat

Gold up on safe haven appeal as Israel retaliates after surprise Hamas attacks

The price of gold surged by 1% to reach $1,860 per ounce on Monday, extending gains from the previous session amid the ongoing war between Israel and the Palestinian militant group Hamas, which entered its third day and heightened geopolitical tensions in the Middle East.

Over the weekend, Hamas launched a surprise attack on Israel, triggering a series of retaliatory actions from the latter and resulting in a combined death toll exceeding 1,000 on both sides. On Sunday, Israel declared a formal state of war for the first time since 1973, setting the stage for a major military operation in the Gaza Strip.

Investors were also concerned about the potential for a broader conflict, with suspicions of Iranian involvement in the attacks. According to both Hamas and Hezbollah, Iran helped plan the attack, according to a report in The Wall Street Journal. However, according to a Monday report from the Times of Israel, “the IDF also said there was no evidence yet of Iran’s role.”

Despite a stronger-than-expected U.S. jobs report on Friday, gold managed to mount a solid comeback and rise by 0.7% as the dollar retreated on the day after showing short-lived gains.

計算您的商品利潤

計算您的商品部位的假設所需保證金(如果您現在已建倉).

分類

金屬 Search
金屬
能源
軟商品

金融工具

Search
Clear input

入市價

平倉價格

建倉日期

平倉日期

帳戶類型

方向

數量

金額必須等於或高於

金額必須小於

金額應為最小手數增量的倍數

USD Down

點差

-

手續費

$-

隔夜利息

$-

佣金

$-

盈/虧

$-
「以符號貨幣顯示」

盈/虧

$-
「以帳戶貨幣顯示」

當前兌換價格:

-
開始交易

過去的表現並不是未來結果的可靠指標。

Gold price forecast: Boost may be temporary as markets sensitive to news of wider conflict

As the metal is viewed as a safe-haven asset by some investors during periods of geopolitical turmoil, the short-term gold price dynamics will likely be positive, as noted by Norbert Ruecker, head economics and next generation research at Julius Baer, told the Wall Street Journal:

“Oil and gold prices are gaining on the uncertainty; safe-haven government bonds could see a pause in rate increases amidst the return in safe-haven flow.”

According to Ruecker, the key question is how long these haven flows will last with the conflict escalating:

“At least from a commodity perspective, geopolitics tends to be a noise element rather than a lasting and impactful fundamental force.”

Peter Schaffrik, chief European macro strategist at RBC Capital Markets, issued a similar gold price overview, saying that for a broader or lasting impact on markets — including commodities such as gold — the conflict would likely need to escalate beyond Israel's borders:

"The uncertainty about what [the war] means for the region means that oil is going up, and there is a bit of ‘risk off’ and hence bond markets are performing and equity markets are down a little bit. You can’t help but feel sympathy for the people on the ground, but the market, if it doesn’t impact the wider economy, can easily shrug things off."

A recent survey by Kitco indicated that Wall Street analysts and retail investors were evenly split on gold’s prospects — although those projections and opinions will now likely be adjusted given the Hamas attack on October 7.

The gold price forecast shared by economic data aggregator TradingEconomics saw the commodity trading at a potential average of $1,853.05 by the end of this quarter. The platform’s 12-month gold projection estimated it to trade at $1,916.63 by early October 2024, indicating a potentially bullish outlook.

When considering gold and other commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss. Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.

最新新聞

星期四, 14 十一月 2024

Indices

消費者物價指數符合預期,市場聚焦12月聯準會降息與股市走向

星期四, 14 十一月 2024

Indices

11月14日財經:10月美國通脹數據符合預期,比特幣一度漲到93000

星期三, 13 十一月 2024

Indices

美元指數創新高,比特幣價格回調,市場觀望消費者物價指數與通脹走向

星期三, 13 十一月 2024

Indices

原油價格下跌至兩週低點,OPEC再次下調需求預測,市場聚焦中國刺激措施與美國CPI數據

Live Chat