Gold Prices Surge Amidst Middle East Tensions, Trump's Warning Reverses Scene

• Gold prices rose on Friday, ending the week with gains, as investors sought safe-haven assets due to Middle East conflicts and US-Iran uncertainty.
• Spot gold increased by 2.6% to $4,492.74 per ounce, while gold futures rose by 2.5% to $4,520.40.
• This recovery follows gold's worst weekly performance in four decades, with spot gold on track for a 0.4% gain this week.
• Joseph Cavatoni of the World Gold Council noted that higher interest rate expectations and a strong dollar have impacted gold, but its fundamental value remains strong due to central bank demand and global uncertainty.
• Despite Trump extending the deadline for Iran regarding the Strait of Hormuz, market sentiment remained cautious, with Iran claiming attacks on its infrastructure.