Following reports that the US President might launch a new attack on Iran, the price of gold surged to a record high on Thursday. An ounce of gold reached nearly $5,600.
Due to increasing political tensions worldwide, people have started investing more in safe-haven assets like gold and silver. As a result, the prices of these metals continue to rise. A weak US dollar and uncertainty surrounding US policies are also contributing to this increase.
Iran has warned that it will retaliate severely if the US launches an attack. This has further increased the demand for safe-haven investments like gold in global markets.
