Gold surges 2% amid escalating Middle East tensions. Spot gold climbed to $5,368.09 per ounce following U.S. and Israeli strikes on Iran, marking its highest level in over four weeks. U.S. gold futures jumped 2.58% to $5,382.60 as geopolitical uncertainty drives investors toward traditional safe-haven assets. Analysts expect continued volatility to support prices, with major banks forecasting gold could reach $6,000 and potentially $6,300 by end of 2026. The rally builds on a remarkable 64% surge in 2025, fueled by strong central bank buying and ETF inflows. Silver also gained 1.68% to $95.35 per ounce. Rising producer prices and upcoming U.S. labor data will influence market direction this week.
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