Gold price rises to 6-year high – strong start to the new year!

The hope of calmly starting the new year with peace and growth has been dashed. A lot has changed over the five trading days since Christmas. The gold price opened tonight on January 6th with a 2% jump to Friday’s closing price at $ 1,589 after events in the Iran conflict overturned over the weekend and fears of a third world war set financial markets in turmoil. During these five trading days, the price of gold rose by over USD 100 (+6.7%). The United States had targeted the Iranian top general Kassem Soleimani together with an Iraqi general who met for a funeral in Iraq by air strike on the night of January 2-3. Tehran has been threatened with retribution ever since. Troops were mobilized within Iraq over the weekend. Previously, there were several rocket attacks on the area of ​​the US embassy in Baghdad and an Iraqi base where US soldiers are stationed, with the aggressors unknown to date.

Because of the new Iran crisis, the gold price jumped to a new 6-year high.

The Iraqi government unexpectedly called for all foreign troops to be withdrawn by parliamentary decision last weekend and blocked the airspace for foreign forces because they did not want a war between Iran and the United States to be waged on Iraqi soil. Trump refused and demanded compensation for the costs of the infrastructure and air force bases built there to compensate for the withdrawal of the troops. At the same time, he transferred new troops to Iraq. Although Trump has repeatedly pointed out in the past that he does not want a war with Iran or a regime change, he showed himself to be fairly obedient to the Neocons and Netanyahu in the Iran-Israel conflict – as ex-libertarian congressman and ex-presidential candidate Ron Paul stated , After all, Trump is the first president in a long time to have not waged a war during his tenure, fulfilling this campaign promise, at least to date.