A commercial street in Burj Hammoud, on Oct. 8, 2025. (Credit: Philippe Hage Boutros/L’Orient-Le-Jour)
Gold surpassed $4,000 an ounce for the first time on Wednesday morning, Oct. 8, in Asian trading. Investors rushed into the historic rally of the safe-haven metal to shield themselves from global economic and geopolitical uncertainty while betting on interest rate cuts in the U.S.The global frenzy spread to Lebanon, where demand has been steadily rising for several years amid a lingering economic and banking crisis since 2019 and uncertainty over the country’s stability, just emerging from a war between Hezbollah and Israel.“We can say demand for gold and silver has been growing in the country for five years, but this trend has accelerated sharply over the past month,” said Chris Boghos, director of Boghos SAL Precious Metals, a seller in Burj Hammoud, at the northern entrance to Beirut.On Thursday morning, several dozen people were...
Gold surpassed $4,000 an ounce for the first time on Wednesday morning, Oct. 8, in Asian trading. Investors rushed into the historic rally of the safe-haven metal to shield themselves from global economic and geopolitical uncertainty while betting on interest rate cuts in the U.S.The global frenzy spread to Lebanon, where demand has been steadily rising for several years amid a lingering economic and banking crisis since 2019 and uncertainty over the country’s stability, just emerging from a war between Hezbollah and Israel.“We can say demand for gold and silver has been growing in the country for five years, but this trend has accelerated sharply over the past month,” said Chris Boghos, director of Boghos SAL Precious Metals, a seller in Burj Hammoud, at the northern entrance to Beirut.On Thursday morning, several dozen people...
Israel continues attacks on southern Lebanon, demolishes buildings in Bint Jbeil