Gold Price

Gold could soar to $10,000 per ounce as it regains popularity as a safe haven amid inflation and global tensions, JPMorgan CEO Jamie Dimon has predicted.

Gold prices breached $4,200 per ounce for the first time on Wednesday, extending a record rally as rising interest rate cut bets and geopolitical jitters send investors flocking to the safe-haven metal.

Gold hit an all-time high just above $4,000 per ounce, according to trading data.

The local stock market in Iran has regained almost all of the losses it suffered during and after an Israeli aggression on the country in June, and amid a slight fall in domestic prices of gold and foreign currencies.

The global cryptocurrency market is under renewed pressure as a stronger U.S. dollar, supported by the Federal Reserve’s cautious monetary stance, weighs heavily on digital assets and gold alike.

Gold prices steadied near all-time highs on Wednesday, as investors awaited U.S. inflation figures later this week and assessed Federal Reserve Chair Jerome Powell’s latest remarks on interest rate policy.