Gold climbed above $5,250 an ounce on Feb. 27, while silver jumped to $94, as escalating U.S.-Iran tensions boosted demand for safe-haven assets.
The rally comes amid stalled nuclear talks and a U.S. military buildup ordered by Donald Trump, heightening geopolitical uncertainty.
Despite a sharp selloff in January, gold remains up about 20% this year, supported by strong inflows into gold-backed ETFs and sustained buying interest.
Analysts from TD Securities, JPMorgan Private Bank, Bank of America and JPMorgan say tariff uncertainty and Middle East risks could trigger another breakout, with some projecting prices as high as $6,000 per ounce within a year.
Markets are also watching U.S. monetary policy, as Austan Goolsbee signaled that multiple interest rate cuts could be possible if inflation eases, a move that could further support non-yielding assets like gold.
Gold extended its rally on Friday, Feb. 27, as escalating tensions in the Middle East unsettled global markets and pushed investors toward traditional safe-haven assets.
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