--- title: What's Driving Gold Right Now description: Escalating geopolitical tensions have been a big factor in gold demand the past few months and gold's foothold above $2,000 an ounce is well established. image: https://blog.assetstrategies.com/hubfs/Britannia_600x300.png --- [Skip to content](https://blog.assetstrategies.com/always-something-interesting/whats-driving-gold-right-now#main-content) [Contact us](mailto:infoasi@assetstrategies.com) [![](https://blog.assetstrategies.com/hs-fs/hubfs/ASI_Logo_NoTag_RGB.png?width=126&height=50&name=ASI_Logo_NoTag_RGB.png)](https://www.assetstrategies.com) Open main navigation Close main navigation - [Contact us](mailto:infoasi@assetstrategies.com) Jan 30, 2024 8:00:00 AM # What's Driving Gold Right Now [ASI](https://blog.assetstrategies.com/always-something-interesting/author/asi) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://blog.assetstrategies.com/always-something-interesting/whats-driving-gold-right-now) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.assetstrategies.com/always-something-interesting/whats-driving-gold-right-now) [Twitter icon](https://twitter.com/intent/tweet?url=https://blog.assetstrategies.com/always-something-interesting/whats-driving-gold-right-now) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://blog.assetstrategies.com/always-something-interesting/whats-driving-gold-right-now) [envelope icon](mailto:?body=https://blog.assetstrategies.com/always-something-interesting/whats-driving-gold-right-now) So far this week, gold is up on safe haven demand as the Israel-Hamas war continues to spread conflict throughout the region. Three U.S. servicemembers were killed on Sunday in Jordan after an unmanned aerial drone attack. Gold's rebound followed a second consecutive weekly drop. Escalating geopolitical tensions have been a big factor in gold demand over the past few months. Meanwhile, 97.9% of the investors tracked by the CME FedWatch Tool are betting that the Fed will hold rates at this week’s meeting. Even though the central bank was widely expected to begin reducing rates in March just weeks ago, a series of strong economic reports now has most investors expecting an interest rate cut in May. Rate cuts are seen as bullish for gold, and when the Fed does finally begin to cut rates, we can expect a real rise in gold spot prices. Until then, investors would do well to seek out temporary dips as buying opportunities.  As January draws to a close, gold is down 1.7% for the month after gaining 0.7% in December and rising 3.2% in November. Gold saw gains of 13% in 2023. While it hasn't begun to move up yet this year, gold's foothold above $2,000 an ounce is now well established, and if key market factors are any indication, we can expect a valiant performance in 2024. Take advantage of today's relatively low spot prices. Gold's next highs are just around the corner, so don't delay. Give us a call at **1-800-831-0007** or **[email us](mailto:infoasi@assetstrategies.com?subject=2021%20Eagles)** to place your order today!   ![images-2](https://blog.assetstrategies.com/hubfs/images-2.jfif) Random Date 1 oz. Gold Britannia Just $69 over spot\*   *\***Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Minimum order is 1 oz. gold. Shipping, handling, and insurance are included on any purchase of 10 oz. of gold or more. Offer expires Friday, February 2, 2024, or while supplies last.***   [gold](https://blog.assetstrategies.com/always-something-interesting/tag/gold), [wealth insurance](https://blog.assetstrategies.com/always-something-interesting/tag/wealth-insurance), [gold coin](https://blog.assetstrategies.com/always-something-interesting/tag/gold-coin), [bull market](https://blog.assetstrategies.com/always-something-interesting/tag/bull-market), [precious metal](https://blog.assetstrategies.com/always-something-interesting/tag/precious-metal), [investing](https://blog.assetstrategies.com/always-something-interesting/tag/investing), [investment strategy](https://blog.assetstrategies.com/always-something-interesting/tag/investment-strategy), [bullion](https://blog.assetstrategies.com/always-something-interesting/tag/bullion), [alternative investments](https://blog.assetstrategies.com/always-something-interesting/tag/alternative-investments), [safe haven investment](https://blog.assetstrategies.com/always-something-interesting/tag/safe-haven-investment) ## Related posts [![](https://blog.assetstrategies.com/hs-fs/hubfs/Britannia_600x300.png?height=200&name=Britannia_600x300.png)](https://blog.assetstrategies.com/always-something-interesting/what-would-it-take-for-gold-to-reach-3000) [gold](https://blog.assetstrategies.com/always-something-interesting/tag/gold), [wealth insurance](https://blog.assetstrategies.com/always-something-interesting/tag/wealth-insurance), [gold coin](https://blog.assetstrategies.com/always-something-interesting/tag/gold-coin), [bull market](https://blog.assetstrategies.com/always-something-interesting/tag/bull-market), [precious metal](https://blog.assetstrategies.com/always-something-interesting/tag/precious-metal), [investing](https://blog.assetstrategies.com/always-something-interesting/tag/investing), [investment strategy](https://blog.assetstrategies.com/always-something-interesting/tag/investment-strategy), [bullion](https://blog.assetstrategies.com/always-something-interesting/tag/bullion), [alternative investments](https://blog.assetstrategies.com/always-something-interesting/tag/alternative-investments), [safe haven investment](https://blog.assetstrategies.com/always-something-interesting/tag/safe-haven-investment), [interest rates](https://blog.assetstrategies.com/always-something-interesting/tag/interest-rates) ## [What Would It Take for Gold to Reach $3,000?](https://blog.assetstrategies.com/always-something-interesting/what-would-it-take-for-gold-to-reach-3000) [ASI](https://blog.assetstrategies.com/always-something-interesting/author/asi) Feb 27, 2024 8:00:00 AM Gold saw a bump up at the end of last week, edging higher on Friday on a weaker dollar and... 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