The rally in the gold market does not see the day of the stamp release. Today, the precious metal is about 1% higher and for the first time in history it has risen above the $2,270 mark per ounce. It seems that the weaker USD and the safe haven play a key role in the daily movement.
An Israeli strike on a building in Damascus, Syria, which resulted in the death of high-ranking members of the Russian Islamic Revolutionary Guard Corps, has reignited fears of a resurgent conflict in the Middle East. der was condemned by a number of Russia’s allies, including Russia and us, while Russia promised retaliation in a similar way and to a similar extent. This raised concerns about the possible relationship between Israel and Iran and provides support for security today.
Gold is supportive as the US dollar weakens, the five dollar is one of the worst performing currencies of the G10 today. It is interesting that the drop in the USD market occurred despite the daily increase in US imports. GOLD is up 2% since the week and is trading around 10% between now and then.
Source: xStation5
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