Gold surges toward one-month peak amid geopolitical tensions. Spot gold climbed 1% to $5,238.75 per ounce, marking its seventh consecutive monthly gain with a 7.6% rise in February alone. The rally is fueled by escalating U.S.-Iran nuclear negotiations without breakthrough progress, prompting a flight-to-safety sentiment among investors. Simultaneously, U.S. Treasury yields slipped to three-month lows, reducing gold's opportunity cost and making the non-yielding asset more attractive. April gold futures advanced 1.1% to $5,254. Market analysts project the next upside target near $5,450 with support at $5,120. Contributing to bullion strength, China's net gold imports via Hong Kong surged 68.7% in January, reflecting robust demand from the world's top consumer. Silver also gained momentum, rising 6% to $93.67 per ounce on track for a 10.3% monthly increase.
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