The escalation of the situation in the Middle East has driven safe-haven buying, and the price of gold is still $50 away from a new high

PANews June 16 news, gold prices moved towards a record high on Monday as the escalating conflict between Israel and Iran prompted investors to turn to safe-haven assets. In early Asian trading on Monday, gold prices rose 0.6% to above $3,450 an ounce, about $50 away from the all-time high set in April. The sudden rise in geopolitical risks has added more momentum to the rise in gold prices, and the current round of gold price increases is mainly driven by the threat of Trump's radical tariff agenda to global economic growth. Gold has risen by more than 30% in 2025, and central banks seeking to diversify away from the US dollar is another important driving force.