Middle East tensions prompt gold prices to surge past US$2,400 an ounce｜Taiwan News

As tensions in the Middle East rises in the wake of the launching of drones and missiles into Israel by Iran, international gold prices have recently soared past US$2,400 an ounce. Foreign investors predict that gold prices may climb even higher in the future. Let’s hear from an observer.

Voice of Lin Cheng-hsiung
New Taipei City Jewelers Commercial Assoc.
China’s gold reserves have more than doubled in 10 years. Even though the U.S. seems to have more than 8,000 tons of gold, it gets nervous seeing China continuing to stockpile gold. Now as the situation between Iran and Israel intensifies, some experts are seeing gold prices reaching US$3,000 to US$4,000 an ounce.

In the last two months, the price of gold has risen by 16% to 18%. Although in the short term, it will go through a correction after the sustained rise, geopolitical tensions have prompted governments to increase their gold reserves. Even Wall Street banks like UBS, Bank of America, and Goldman Sachs have predicted that the price of gold will rise in the next two to three years. It’s just a matter of time, before it reaches US$4,000 an ounce, some experts say.

For more Taiwan news, tune in:
Sun to Fri at 9:30 pm on Channel 152
Tue to Sat at 1 am on Channel 53
#台灣新聞 #TaiwanNews #民視新聞 #FTV新聞 #Taiwan

Видео Middle East tensions prompt gold prices to surge past US$2,400 an ounce｜Taiwan News канала 民視英語新聞 Taiwan News Formosa TV