Gold prices rose by 0.4% to reach $3,302.02 per ounce in Asian markets. The surge was triggered by reports indicating that Israel might target Iran’s nuclear facilities, coupled with a weaker U.S. dollar.

Rising Geopolitical Risks Fuel Safe-Haven Demand

According to CNN, Israeli forces are preparing for potentially aggressive actions against Iranian nuclear sites. Heightened instability in the Middle East typically drives investors toward safe-haven assets like gold.

Dollar Weakness and Ongoing Economic Concerns

The U.S. Dollar Index decreased by 0.3%, influenced by worries about ballooning national debt levels and the administration’s proposed $3–5 trillion tax cut. Investors can keep an eye on significant dates, including Treasury auctions and Federal Reserve announcements, to anticipate currency fluctuations that may affect gold prices.

Focus on Other Precious Metals

• Silver increased by 0.2% to $33.26 per ounce, benefiting from the broad rally in precious metals.

• Platinum fell by 1% to $1,050.50 per ounce, underperforming due to mixed demand in industrial sectors.

Market Levels and Outlook

• Support Level: $3,300 per ounce

• Resistance Level: $3,350 per ounce

Market participants can stay informed by leveraging live price updates and liquidity insights through market analytics tools, allowing prompt action on emerging geopolitical or economic developments.