Tensions in the Middle East are driving Gold's rise. Iran and Israel are exchanging attacks. Rising conflict prompts traders to seek gold as a haven. Fed policy also plays a key role. Traders expect a rate cut if US inflation drops and growth weakens.

This rise is also lifting the commodities sector, which is headed for its second consecutive weekly gain, with the Bloomberg Commodity Total Return Index ( DJP) up 3.3% this month and year-to-date returns in U.S. dollar exceeding 9%.

The precious metal is forecast to hit US$3,400 an ounce by the end of 2025. Read more at straitstimes.com. Read more at straitstimes.com.

Geopolitical uncertainties in the middle-middle-east have pushed gold over the ₹1 lakh per 10 grams mark. Check gold and silver rates in your city today — Chennai, Kolkata, Bengaluru, Hyderabad, Delhi and Mumbai.

If prices go up, Fed officials may be inclined to raise its benchmark rate, raising borrowing costs for businesses and consumers. That could lead to businesses to cut jobs, particularly in the high-growth tech sector, and force Americans to pull back on spending, which drives more than 70% of economic activity in the U.S.

By Purvi Agarwal and Sanchayaita Roy (Reuters) -European shares tumbled on Tuesday as the conflict between Iran and Israel entered its fifth day, raising the risk of further regional unrest and prompting investors to shun risk assets.