FX.co ★ Gold Surges to Record High

Gold prices surged over 1% on Monday, exceeding $4,580 per ounce, setting an unprecedented high due to escalating geopolitical tensions and anticipations of further reductions in US interest rates. Iran's parliamentary speaker issued a warning to the US and Israel against any interventions following President Trump's threats of military action. These developments coincide with widespread protests in Iran, which have reportedly resulted in the deaths of hundreds. Simultaneously, the US continues its blockade of Venezuela post-President Maduro's ouster, with two more tankers seized in the Caribbean last week. Additionally, data released on Friday revealed job growth fell short of expectations, bolstering the assumption that the Federal Reserve will proceed with rate cuts. Traders now anticipate two more cuts this year. In other news, the US Supreme Court deferred its ruling on the Trump tariffs case last Friday and is scheduled to deliver its next opinion on Wednesday.