Analysts say that gold is being favored by geopolitical tensions, since the war in Ukraine and Gaza would be encouraging some investors to invest in bullion.

The ounce of gold, a safe haven asset par excellence, has set a new record after reaching US$2,418.05 around 10:00 this morning in a context marked by tensions in the Middle East, according to the market data consulted.

The precious metal has managed to set a new all-time high, although it has subsequently contained its advance and has continued to trade at levels close to the one already set. In this sense, the ounce was trading at around 1:00 p.m. with an increase of 1.76%, to US$ 2,414.55.

Analysts say that gold is being favored by geopolitical tensions, since the war in Ukraine and Gaza would be encouraging some investors to invest in bullion.

In particular, Iran's potential retaliation for its attack on Tehran's consulate in Damascus is pushing investors towards the safe haven asset given that, according to The Wall Street Journal, citing a source familiar with the matter, Israel would be preparing for an attack in the next two days.

In addition, some central banks in emerging countries have also been increasing their gold reserves lately, as is the case of China's central bank, which expanded its inventories in March for the seventeenth consecutive month.

So far this year, gold has accumulated a revaluation of more than 16.6%, although the advances have been concentrated mainly in March in the heat of the statements and movements of the central banks regarding when and with what intensity they will arrive. interest rates.

Paradoxically, the prospect of a tough monetary policy for longer than expected should put downward pressure on gold, since the metal is traded in 'greenbacks' and classical theory postulates that as the 'price of money' remains high, gold falls. and vice versa.