Rising concerns over the Hamas-Israel war have caused investors to flock to the relative stability of precious metals, causing spot price increases for gold and silver since the Hamas attack on Israel on October 7. The spot price of gold inflated by 8% to $1,966 per troy ounce from early October to early November and is forecast to sequentially increase into H2 2024 to above $2,000 per troy ounce. Gold price rises will most impact connectors and PCBs, while silver will influence some MLCC and resistor pricing. Procurement professionals should continue to monitor precious metals pricing.