Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices surged more than 2% in Asian trading on Monday as investors fled to safe-haven assets following a dramatic escalation in the Middle East, after the United States and Israel launched coordinated strikes on Iran that reportedly killed Supreme Leader Ayatollah Ali Khamenei.
Spot gold jumped 2% to $5,380.55 an ounce by 01:33 ET (06:33 GMT), after touching an intraday high of $5,393.34—its strongest level since late January. U.S. gold futures climbed even more sharply, rising 2.8% to $5,391.46 an ounce.
Middle East escalation fuels haven demand
Markets were rattled by the unprecedented developments over the weekend, which marked a major turning point in regional geopolitics. The killing of Iran’s most powerful figure raised fears of a wider Middle East conflict, with investors increasingly concerned about potential disruptions to global energy flows, particularly through the Strait of Hormuz—a vital chokepoint for international oil shipments.
Israeli forces reportedly carried out a fresh wave of strikes on Tehran on Sunday, targeting military command centers and air defense systems. Iran retaliated with missile attacks on Israeli territory and U.S. military bases in the Gulf region.
The sharp rise in geopolitical risk triggered a classic risk-off reaction across global markets. Equity futures slid, crude oil prices jumped, and demand surged for traditional stores of value, placing gold firmly back in focus.
Analysts eye $5,400 and beyond
Michael Brown, Senior Research Strategist at Pepperstone, highlighted $5,400 per ounce as the next key resistance level for gold, followed by the late-January record high near $5,595.
Brown also said that, given the current geopolitical backdrop and supportive macro conditions, a move toward $6,000 per ounce by year-end remains a realistic scenario.
Gold has already gained nearly 25% so far this year, supported by escalating geopolitical risks, sustained central bank buying, and expectations that the Federal Reserve will begin easing monetary policy later in 2026.
Other metals advance
Other precious metals also moved higher alongside gold. Silver prices rose 1.3% to $95.15 per ounce, while platinum added nearly 1% to $2,389.11 per ounce.
In industrial metals, benchmark copper futures on the London Metal Exchange edged up 0.3% to $13,411 a ton, while U.S. copper futures gained 0.2% to $6.07 a pound.
With geopolitical uncertainty intensifying and risk appetite under pressure, bullion markets appear poised to remain in the spotlight in the days ahead.
