Tensions in the Middle East Escalate, Gold Futures May Challenge Record Highs

BlockBeats reported that on June 13, following Israel's nighttime airstrike on Iran and Iran's subsequent drone counterattack, gold futures rose due to safe-haven demand, approaching the all-time high of $3,509.90 per ounce set in mid-April. Analyst Nikos Tzabouras from Tradu.com wrote that concerns over further escalation in the Middle East, coupled with uncertainty surrounding U.S. tariffs, could push gold prices to record-breaking levels.

However, the path to de-escalating and containing the conflict remains open. If tensions ease, gold prices could face a short-term downward adjustment. Nevertheless, considering the current risk-laden environment, the bullish momentum seems well-supported. (Jin10)