Gold prices in the international market are soaring, primarily due to escalating tensions between South Korea and the Korean Peninsula. Investors are flocking to gold, a safe-haven asset, as the risk of regional conflict continues to rise.

🔥 Escalating Tensions on the Korean Peninsula
In East Asia, the situation between South Korea and North Korea has intensified, with North Korea destroying several sections of inter-Korean roads and railways. South Korea has fired warning shots in response, although the incident has not caused any direct damage in South Korea.

🔥 Increasing Conflict in the Middle East
The Middle East is also facing heightened tensions, with Israel expected to retaliate against Iran. The ongoing conflict between Israel and Hezbollah shows no signs of de-escalation, and Yemen is at risk of being drawn into this escalating military confrontation.

💡 Gold Prices Expected to Continue Rising
Amid the growing uncertainty, money continues to flow into gold, driving the precious metal’s price to potentially hit new records. It is projected that gold could surpass the $2,700/ounce mark by the end of 2024 and possibly reach $3,000/ounce by early 2025.
Despite a strong USD and the Fed delaying interest rate cuts, gold is expected to rise due to global political instability. However, as gold prices approach new peaks, profit-taking pressure tends to increase.

Overall, while there are optimistic forecasts for gold prices, many experts caution that the strong upward potential of gold may not be as highly regarded as before.