There’s a good deal of fear the Middle East conflict could get far worse.
Israel is hunting Hamas. Iran is threatening to get involved. And the U.S. just sent a second carrier to the region. All of which could lead to an intense war.
For one, “Iran Foreign Minister Hossein Amirabdollahian warned his country could act, telling al Jazeera that it had conveyed a message to Israeli officials that “if they do not cease their atrocities in Gaza, Iran cannot simply remain an observer,” as noted by Reuters.
Two, “Top U.S. officials warned on Sunday that the war between Israel and the militant group Hamas could escalate into a bigger conflict across the Middle East, saying they were worried the Lebanese group Hezbollah could attack Israel’s north or that Iran might get involved.”
With those tensions, gold prices are rocketing higher.
Last checked, gold was up $61.61 to $1,932.28 – and could test $2,000 shortly, depending on what happens next. That being said, investors may want to consider oversold gold stocks, such as Newmont (NEM) and Barrick Gold (GOLD).