Gold Tests $2,400 as Dollar Weakens and War Risk Premium Returns

Spot gold prices approached $2,400 per troy ounce as dollar weakness and escalating geopolitical risk fuelled safe-haven buying. The metal has gained over 18% year-to-date, outperforming most major asset classes. Contributing factors include central bank accumulation, geopolitical uncertainty across multiple regions, and growing Federal Reserve rate-cut expectations. Technical analysts project a potential move toward $2,600 if current momentum sustains. For physical gold trading companies, higher prices generate strong profits on existing inventory while compressing margins on new purchases — a complex balance requiring careful inventory management.