Money
Gold plunges as investors react to Middle East ceasefire
Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.
Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.
Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.
The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.
Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.
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