On Friday morning, the price of gold on the exchange is showing an increase, driven by concerns over a potential escalation of conflict in the Middle East. These insights come from trading reports and expert comments.

As of 10:12 Baku time, the price of the April gold futures on the New York Comex exchange rose by $45.7 compared to the previous close, reflecting a 0.9% increase, reaching $5,124.4 per troy ounce. Meanwhile, the May silver futures increased by 2.26%, reaching $84.035 per ounce.

The rise in gold prices may be attributed to growing investor interest fueled by the unstable geopolitical situation.

“Geopolitical risks remain a pressing concern. The potential for conflict escalation exists, especially following recent statements by the Iranian Foreign Minister regarding the readiness of Iranian armed forces for ground action in the event of an invasion by the U.S. or Israel. This is contributing to the sustained high prices of gold,”

noted Kelvin Wong, a senior market analyst at OANDA.