$XAU Gold Above $5,000 as Geopolitics Drive Safe-Haven Demand — Market Talk

Gold prices hold above the $5,000 mark, as a U.S. military buildup in the Middle East and fears of a potential strike against Iran lifted demand for safe-haven assets. In early trading, futures in New York rise 0.7% to $5,030.70 a troy ounce. "Prices have been volatile since a sharp correction from January's record highs, driven partly by speculative trading, but underlying support factors, including geopolitical risks and a shift away from traditional assets, remain in place," says Soojin Kim from MUFG. The outlook for U.S. interest rates remains another key driver, with investors now awaiting the release of PCE data--the Federal Reserve's preferred inflation gauge--due later Friday.

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