For centuries, gold has served as a safe store of wealth. It’s a role that the precious metal continues to perform admirably and one that has been brought into sharp focus over the last 10 days following Hamas’ attack on Israel. Prices have increased by 4% in line with the developing conflict, as fears grow that violence could ripple across the whole region.
To this backdrop, investors are increasingly turning to gold to safeguard their wealth, helping to support prices following a late summer dip and pushing the bulls higher. As per Reuters, “Gold prices climbed 1 per cent to their highest in a month on Wednesday after a deadly blast in Gaza fuelled fears about the regional conflict escalating, keeping the safe-haven asset in demand.”
Highlighting the rapid and powerful consequences of safe-haven demand, Reuters continues, “Gold prices have surged over £81 ($100) since the conflict began, despite recent robust US economic data fuelling bets of higher-for-longer interest rates, which tend to lift the dollar and bond yields.”
Don’t delay. Buy gold now.
