Gold Prices Soar Amidst Escalating Geopolitical Tensions

The price of precious metals experienced a significant climb on Monday, driven by heightened geopolitical tensions, particularly the end of the Assad family's 50-year rule in Syria. This development has led to increased demand for safe-haven assets.

Syrian President Bashar al-Assad sought refuge in Russia after being displaced from his country's leadership as insurgent forces made significant advances into Damascus. This shift in power dynamics has further fueled the demand for gold and other precious metals as investors seek stability.

By 6:25 am ET, gold prices had surged by 1.02%, reaching $2,659.71 per ounce. Silver prices also saw an improvement, rising by 2.14% to $31.66 per ounce. Platinum and palladium followed suit, with platinum adding 2.19% to $951.74 per ounce and palladium trading 1.50% higher at $965.61 per ounce.