Gold has journeyed beyond the $3,000 threshold, primarily driven by strong demand amid escalating geopolitical tensions. Recent conflicts, particularly the renewed strikes between Israel and Gaza following a collapsed ceasefire, have added layers of uncertainty, propelling investors toward gold as a refuge asset.

Moreover, ongoing negotiations between Russia and the US regarding Ukrainian assets contribute to this climate of uncertainty. Investors should closely monitor these developments as they have profound implications for the gold market in the near future.