Gold Prices Rise Amid Geopolitical Uncertainty

Gold prices surged by 1% on Tuesday as investors kept a close eye on ongoing geopolitical tensions in the Middle East. This rise follows the downfall of the regime of Bashar al-Assad in Syria and the escalating conflict in Ukraine.

Israel has intensified its actions in the region, beginning an incursion into the demilitarized buffer zone in the Golan Heights and launching a series of airstrikes aimed at destroying military hardware belonging to the former Syrian regime. Meanwhile, Russia has signaled its openness to negotiations with Ukraine but emphasized its commitment to achieving its initial conflict goals.

By 9:36 am ET, gold prices had risen 1.07% to $2,686.51 per ounce. Silver prices also increased by 0.64% to $32.01 per ounce. However, platinum declined by 0.58% to $935.53 per ounce, and palladium dropped by 1.25% to $955.31 per ounce.