Gold prices climbed sharply as tensions in the Middle East drove demand for safe assets. Softer U.S. inflation also boosted hopes for rate cuts, supporting gold's rally above $3,400.

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.

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%.

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.

Gold prices in India have soared to record levels, surpassing ₹1 lakh per 10 grams with a 28% rise in just one year. This surge is driven by escalating geopolitical tensions in the Middle East, inflation worries, and central bank purchases but these very factors also make this a risky time to buy.

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.

Crude oil reversed course Monday amid ongoing tensions between Israel and Iran. This as President Trump heads to the G-7 meeting in Canada. U.S. stocks drifted as investors kick off the week. FOX Business is providing real-time updates on the markets,

Gold, traditionally a safe haven for investors, has seen its value drop below $3,400 amid rising tensions between Israel and Iran.