Gold prices topped $2,710 per ounce for the first time as tensions in the Middle East escalated, prompting investors to seek safe havens.
The rise, which was around 0.7%, came in response to the assassination of Yahya Sinwar, the head of the political bureau of the Hamas movement, who is considered the mastermind of the October 7 attack.
Historically, gold has been considered a safe haven during political and economic crises.
In recent years, markets have witnessed significant volatility due to geopolitical tensions, which has increased the appeal of the yellow metal as an investment.
At the same time, mixed economic data has caused disappointment regarding large interest rate cuts by the US Federal Reserve.
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