Gold's Unusual Stability
Despite the escalating US-Israeli conflict with Iran and surging oil prices, gold prices have stayed surprisingly steady around $5,000/oz, defying its typical role as a safe-haven asset during crises. Experts say this is due to a strong US dollar making dollar assets more attractive, gold's already high price from earlier gains reducing its current appeal, and its recent volatility spooking some traditional investors. The situation could change if the Fed signals further interest rate cuts or if the war is perceived as dragging on longer, making gold more attractive again.
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