Gold Shines Amidst Geopolitical Tensions and Tariff Uncertainty

Gold prices rise as U.S.-Iran tensions and tariff uncertainties drive demand, marking a seventh consecutive monthly gain. As geopolitical risks remain but don't escalate, the precious metal's safe-haven status is reinforced. Silver, platinum, and palladium also post gains amid fluctuating global market dynamics.

Gold prices experienced an upswing on Friday due to heightened demand driven by the persistent U.S. tariff uncertainties and ongoing tensions between the U.S. and Iran. This propelled the precious metal towards a seventh consecutive monthly increase in value.

Spot gold saw a 0.9% rise, reaching $5,232.21 per ounce, while U.S. gold futures escalated by 1.2% to $5,253.20. The reduced yield on U.S. 10-year Treasury notes has made gold a more attractive investment despite its lack of yields.

Geopolitical developments, including indirect U.S.-Iran discussions, have not significantly escalated but continue to support gold's appeal. Meanwhile, precious metals like silver, platinum, and palladium also reported notable gains, influenced by global economic shifts.

(With inputs from agencies.)