Gold prices approaching all-time high amid geopolitical tensions

According to Bloomberg data, gold prices are holding near record highs amid escalating tensions between Iran and Israel. The price of the metal has slightly decreased after an initial rise on Monday, trading around $3,410 per ounce. This figure is $90 below the historical peak reached in April, as reported by the agency.

The escalation of geopolitical tensions has fueled the already strong rise in gold prices. Previously, changes in the metal's value were primarily driven by Donald Trump's aggressive tariff policies. Since the beginning of 2025, the asset has risen by more than 30%. Central banks have played a key role in this rally, as they have sought to diversify their reserves by reducing the dollar's share in them.

Gold prices will continue to rise, confirming the growing safe-haven appeal of the metal, says John Finnie, an analyst at Guardian Gold Australia. Last Friday, its price increased by 1.4% following the release of US inflation and employment data.