Gold experienced a jump in value on April 6 after the United States launched a cruise missile strike on military targets in Syria. New York spot prices rallied to their highest point in almost five months – $1,270.87. Overall, gold’s value has increased by 10% since the start of 2017.
Although the U.S. has mostly utilized military force against ISIS in Syria, this missile strike marks the first major move against Bashar al-Assad’s regime in the region. Additionally, the strike was an executive order that was enacted without congressional approval. In other words, the time between decision, action, and announcement was swift – catching the markets by surprise.
With an unforeseen international conflict making the headlines, Gold’s uptick in price can be attributed to a surge in demand for safe-haven assets. If you want to be alerted to price swings as these events develop, don’t forget that you can use our mobile app to receive alerts via email or push notifications on your phone.