FX.co ★ Gold Remains Volatile as Mideast Conflict Escalates

Gold remained around $3,360 per ounce during volatile trading on Monday, as investors closely monitored the intensifying conflict in the Middle East following the United States’ involvement in Israeli strikes on Iran. Over the weekend, U.S. forces targeted Iran's three principal nuclear sites, prompting a stern warning from President Donald Trump about potential further actions should Tehran fail to seek peace. The ongoing hostilities between Israel and Iran have further propelled the rally that has seen gold prices increase by nearly 30% this year. This week, several Federal Reserve officials are scheduled to deliver speeches, with Chair Jerome Powell set to testify before Congress over two days. The discussions are anticipated to address the potential repercussions of President Trump's tariffs and the situation in Iran. As for economic data, investors will closely observe U.S. core inflation, weekly jobless claims, and PMI readings to gain insights into the Federal Reserve’s future policy decisions.