Phil Carr
The Gold & Silver Club
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.
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.