Gold prices surged to an all-time high above $3,028 an ounce amid escalating tensions in the Middle East and concerns over a slowing US economy. The 0.9% increase came as Israel launched military strikes on Hamas targets in Gaza, threatening to disrupt a fragile truce. The airstrikes have resulted in at least 322 reported fatalities or unaccounted-for individuals since their beginning. Investors flocked to gold as a safe-haven asset, while also weighing data suggesting US economic growth is slowing down.
Source: https://www.bloomberg.com/news/articles/2025-03-18/gold-xausd-holds-near-3-000-as-us-data-adds-to-concerns-over-slowdown