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Gold Price Jumps as US-Iran Conflict Escalates, Crude Oil Prices Soar

Guavy AI Editorial Team
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Gold prices surged 1.31% on a weekly basis as escalating conflict between the US and Iran prompted a flight to safe-haven assets.

The price of gold rose due to increased risk premiums, with renewed US-Iran tensions and attacks on tankers in the Red Sea sending crude oil prices sharply higher.

Brent crude rallied nearly 9.8% during the week and briefly crossed the $100 a barrel mark after Yemen's Houthi rebels claimed strikes on two Saudi tankers in the Red Sea.

US President Donald Trump doubled down on his threat of a 'massive attack' against Iran, further fueling gold's rally.

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