Gold Price Forecast: XAU/USD Surges Beyond $2,410 Following Reports of Israeli Attack on Iran

The price of gold went up to nearly $2,410 per ounce during the Asian trading session on Friday. This happened because there’s a lot of worry in the financial markets, and people are looking for safe investments like gold. This concern grew after ABC News said that Israeli missiles hit a place in Iran, making tensions in the Middle East worse.

There were reports from Iran’s Fars News Agency, shared by Reuters, saying that people heard explosions at an airport in Isfahan. But it’s still not clear what caused these explosions. Investigations are happening to find out more about what exactly happened.

Meanwhile, the US dollar got stronger because some officials from the Federal Reserve, the central bank of the US, said things that made people think interest rates might go up. When the dollar gets stronger, it makes gold more expensive for people who use other currencies.

Atlanta Fed President Raphael Bostic said that prices in the US are going up a lot, and the central bank still has work to do to control this. He thinks it’s really important for them to keep working on it.

On the other hand, New York Fed President John Williams talked about how the central bank pays a lot of attention to information about the economy. He said that right now, he doesn’t see a big reason to lower interest rates quickly.

XAU/USD