Gold futures and spot prices surged to record levels this week, driven by rising geopolitical tensions and expectations of a U.S. Federal Reserve rate cut.
Gold prices on the New York Mercantile Exchange (NYMEX) reached new historic highs on Sunday. The most actively traded February 2026 gold futures contract briefly surpassed 4,430 U.S. dollars per ounce during intraday trading.
In London, spot gold prices also broke records, crossing the 4,400 U.S. dollars per ounce mark on Monday local time.
According to U.S. media reports, the sharp rally in gold is mainly attributed to intensifying geopolitical tensions and growing market expectations of further interest rate cuts by the Federal Reserve.
Gold prices hit historic highs amid global tensions
Lebanon's Ministry of Public Health said on Wednesday that the death toll from Israeli attacks in the country since March 2 has risen to 1,318.
Additionally, a total of 3,935 people have been wounded, according to the ministry.
Iran-backed Hezbollah said on the same day that it shot down an Israeli military helicopter with a missile.
The Lebanese military stated that it had redeployed several units of its troops stationed in the southern border region.
The Israel Defense Forces (IDF) said on Thursday that it killed over 40 Hezbollah militants in air, sea and ground strikes in southern Lebanon over the past day.
The IDF also struck dozens of "terror" infrastructure sites, according to a statement by the military.
Targets hit by the Israeli air force included dozens of headquarters, weapons storage facilities, launch sites and anti-tank missile positions.
Cross-border fighting has continued since March 2, when Hezbollah launched rockets toward Israel for the first time since a ceasefire agreed on Nov. 27, 2024, triggering intensified Israeli air strikes across southern and eastern Lebanon.
Lebanon says death toll from Israeli attacks reaches 1,318 since March 2
