Gold Price Prediction as US-Iran War Hits the Second Week

Gold price hovered at $5,121.50 on Friday after gold surged in earlier trading sessions. The GOLD recovered as the US-Iran War hit the Second Week, increasing demand for safe-haven assets. Silver also saw strong buying momentum and climbed 2.6% to trade near $84.27 per ounce.

Gold had recorded a sharp movement in prices earlier in the week as traders responded to the worsening conflict. The metal spiked up and down briefly to above $5,400 and settled back to the range of around $5,300 in subsequent sessions.

The movement highlighted how quickly the Gold price reacts to geopolitical risks and global economic uncertainty.

Strong demand for bullion continued as investors searched for protection against potential market instability. Rising geopolitical tensions, combined with inflation concerns, have kept gold firmly in focus. The Gold stock price has already gained roughly 18% since the beginning of the year.