Rolling coverage of the latest economic and financial news

Gold has rallied by over 20% so far this year, as investors have piled into bullion.

Back at the start of January, it traded at around $2,060 per ounce, before climbing to its alltime high over $2,500.

The situation in the Israel-Iran-Hamas conflict remains fluid with Iran still expected to make a show of force in response to the recent assassination of Hamas’ political leader. Negotiations for a ceasefire have come to a standstill once again as the US Secretary of State Antony Blinken is visiting the region.

In the meantime, Ukraine’s attempt to reverse the fate of the Russian-Ukraine conflict by mounting an offensive in Russian territories is gathering momentum. However, the possible direct involvement of Belarus and the increased chances of an asymmetric response from the Russian side could potentially scare investors going forward.