Gold is going for new Record high again.The Neely River Trading (NRT) System indicates that gold could be heading towards new record highs (+$2800 when cross $2700) amid growing global tensions. With recent escalations in the Middle East, especially the ongoing conflict between Israel and Hamas, Hezbollah, and increased tensions with IRAN, there are significant implications for global markets. Furthermore, the prospect of an expanded conflict involving Iran raises concerns about potential disruptions in oil supply through the Strait of Hormuz, which could impact global economic stability.
These events add uncertainty to the already volatile economic landscape. The Israel-Iran conflict, for example, has the potential to impact energy prices significantly, affecting economies heavily reliant on Middle Eastern oil imports, such as Greece. Such instability often drives investors towards safe-haven assets like gold, potentially pushing prices to new heights.
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