Gold prices soar to all-time highs, experts forecast up to $3,200 per ounce

Flare-up in West Asia, US elections, further rate cuts by Fed may keep fuelling bullish trend, say experts

Gold prices have surged into uncharted territory, driven by Iran getting directly involved into the escalating conflict between Israel and Lebanon. This latest catalyst in geopolitical tension has fuelled a bullish sentiment, with gold now trading at all-time high levels.

Market analysts are now projecting one-year targets between $2,900 and $3,200 per ounce, up from the current $2,650.

Since the beginning of September 2024, the yellow metal has gained 5.24 per cent in international markets and 4.5 per cent in Mumbai’s spot market. The rally shows no signs of slowing.

“The gold train is running without breaks,”