Week Ahead Commodity Report: Gold Price Forecast [Video]
|Gold surged close to a seven-year peak on Monday, as investors flocked to the safe-haven metal on escalating US - Iran tensions, while palladium hit a record high.
Earlier in the session, gold rallied as much as 2% to touch $1,582 its highest since April 10, 2013 with geopolitics taking center-stage, as the Iran-U.S. tensions have escalated to a boiling point.
President Donald Trump threatened sanctions against Iraq on Sunday after Baghdad called for American and foreign troops to leave, amid a growing backlash over the U.S. killing of a top Iranian military commander, heightening fears of wider conflict.
Elsewhere palladium hit an all-time peak earlier, and was last up 0.85% to $1986 and silver gained 1.2% to $18.34 an ounce, after touching a more than three month high at $18.47.
Where are commodity prices heading next? Watch Phil Carr at The Gold & Silver Club review Gold, Silver and Crude Oil with the latest price forecast and predictions.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.