Gold price reaches new record after Israeli attacks to Gaza

Driven by the climbing of tensions between Israel and Hamas and the global geopolitical and economic uncertainties, the gold batted after record and reached a historical maximum on Tuesday thanks to its «refuge» value status.

AFP

The ounce of gold climbed on Tuesday to a historic peak of 3,038.33 dollars, exceeding its record last Friday.

Israel on Tuesday announced his intention to continue his attacks in Gaza, after intense bombings that killed 400 Palestinians according to Hamas, in a fact that unleashed international convictions.

«Prime Minister Benjamin Netanyahu declared that these attacks were launched in response to Hamas’s rejection of changing the fire cessation agreement and releasing the remaining hostages» held by the Palestinian group, «and oil and gold rebounded in reaction» to these sayings, Monex USA analysts summarized.

The price of gold is also promoted «by the high level of uncertainty caused by the unpredictability of US President (Donald) Trump,» estimated in a Carsten Fristsch, Commerzbank note.

«This concerns its erratic decisions about tariffs, its internal policy with actions against various (governmental) agencies and their foreign and security policy,» he added.