04-Mar-2026      17:27

Gold breaks above $5200 per ounce as safe haven demand offers strong support

COMEX Gold futures soared today as safe haven buying stayed in place after the US and Israel launched joint attacks on Iran. Gold had lost around 3.50% yesterday in volatile trades, testing around two-week low but moved up impressively today. The metal had dropped amid a sharp upswing in the US dollar in last session but seems to have come back to winning ways, largely holding onto the 10% surge in Feb-25. Crude oil prices are near eight-month high, offering a strong boost for Gold. The yellow metal trades up 1.60% at $5206 per ounce.

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