ING: Gold prices rise, driven by Iran-related conflicts

Against the backdrop of the United States and Israel striking Iran and Iran taking retaliatory actions, gold futures rose by 3%. The economics department of ING pointed out in its report that the initial market response was clearly risk-averse. However, the institution also mentioned that if military actions are prolonged and crude oil futures prices remain high, inflationary pressures may emerge, which could potentially slow the flow of capital into the precious metals market.