Max Beck, president of the US Hartford Gold Company, said that the tense situation in the Middle East is sending mixed signals to gold. Geopolitical uncertainty supports safe-haven demand, but rising energy prices may drive up inflation, boost the dollar, and weigh down the price of gold. Central banks have roughly doubled their gold purchases from pre-2022 levels, and some countries have increased their gold reserves for 23 consecutive months.

Max Beck, president of the US Hartford Gold Company, said that the tense situation in the Middle East is sending mixed signals to gold. Geopolitical uncertainty supports safe-haven demand, but rising energy prices may drive up inflation, boost the dollar, and weigh down the price of gold. Central banks have roughly doubled their gold purchases from pre-2022 levels, and some countries have increased their gold reserves for 23 consecutive months.