Analyst: Gold Price Outlook Remains Optimistic Driven by Safe-Haven Demand
According to ChainCatcher, gold prices edged higher during early Asian trading on Monday, as geopolitical tensions may spur safe-haven demand. Israel and Iran intensified airstrikes over the weekend, while U.S. President Trump stated that the United States "could possibly" become involved in the conflict.
Market analyst Fawad Razaqzada noted that gold has been rising on the back of safe-haven inflows. Razaqzada added, "Given factors such as heightened geopolitical risks in the Middle East, the outlook for gold remains undoubtedly positive."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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The US Dollar Index rose by 0.49%, closing at 97.349.
The Dow Jones Index closed up by 123.92 points, with both the S&P 500 and Nasdaq also rising.
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