Gold prices on Monday reached a new record high in history - $2372.50 per troy ounce, according to COMEX data. This was facilitated by speculative sentiment and concerns about the situation in the Middle East, which were stronger than doubts about the postponement of the Fed rate cut, writes "Prime".

At the end of the trading session, June futures added +0.89%, closing at $2351.00. This morning it continued to grow - at 7:12 it rose another 0.55% and traded at $2363.90.

According to Capital.com analyst Kyle Rodda, cited by Prime, players' assessment of the precious metal's future prospects is now overly optimistic, while they are chasing momentum. At the same time, prices are being pushed upward by the tense geopolitical situation in the Middle East, he noted.

Since the beginning of this year, precious metal prices have soared by 12%. The main drivers of growth were the increase in geopolitical tensions, purchases by central banks and gold funds.