Gold and silver prices are rising again in the global market as the conflict between the United States, Israel, and Iran continues. The growing tensions in West Asia have led investors to increasingly buy gold and silver, which are considered safe-haven assets. In addition, the U.S. dollar index has retreated slightly from its record high, making gold and silver cheaper for holders of other currencies, which has further increased demand for these precious metals.
Reports indicate that U.S. and Israeli forces have carried out strikes on certain targets in Iran. In response, Iran is said to have launched missile attacks toward areas in neighboring regions, further intensifying the conflict. At the same time, expectations that interest rates in the United States could decline are also supporting gold prices, as bullion tends to perform well in a low-interest-rate environment.
Furthermore, reports that the United States may increase global import tariffs from 10 percent to 15 percent have heightened economic concerns in the market. In addition, an incident in which a U.S. submarine reportedly sank an Iranian warship near the coast of Sri Lanka has added to the tensions. According to the U.S. Department of Defense, this is said to be the first time since World War II that an enemy ship has been sunk using a torpedo.
