Gold Prices Soar Amid Middle East Tensions

0:00On March 2nd, gold prices jump more than 2 percent on Monday, hitting $5,389 per ounce, amid expanding. U.S. and Israel strikes on Iran. The metal reached its highest level in over four weeks, with futures climbing 3 percent to $5,404 per ounce. The conflict intensified as Iran fired back at U.S. bases in Gulf cities, halting oil tankers in the Strait of Hormuz and grounding regional flights. Israel widened its operations by targeting Iran-backed militants in Lebanon, raising worries of a drawn-out Middle East war. Investors rushed to save havens like gold, driving down global stock markets. This flight reflects broader fears of economic disruption, stalled recovery, and fresh inflation pressures from the unrest. Gold has gained strength this year on global tensions, building on a 64 percent surge last year, from central bank buys and policy shifts. Banks now predict prices could top $6,250 by the end of next year.

1:02Eyes turned to key U.S. jobs reports this week, including payroll's data, which could sway markets further as volatility lingers in these uncertain times.