Gold breaks $2,500 as Middle East tensions escalate. Learn why investors are panic buying precious metals despite strong economic data.

Price of gold slipped below the Rs 1 lakh mark even as Iran and Israel continued their attacks, keeping the Middle East on boil.

Gold rally accelerates as Israel-Iran conflict intensifies and Fed rate cut bets grow. Market watches for breakout above $3,500.20 next week.

The usually slow-to-move asset has gained a whopping 30% since the beginning of the year, catalyzed by US President Donald Trump’s trade tariffs and, more recently, an escalation of military action in the Middle East following an Israeli missile strike on Iran on June 13, which caused Bitcoin prices to fall.

Gold prices on the Multi Commodity Exchange (MCX) have surged amid rising tensions in the Middle East, with analysts warning that any further escalation could push rates to ₹1.02–1.05 lakh per 10 grams.

Gold prices climbed to their highest point in nearly two months on Friday, and were on track for a weekly gain, as investors flocked to safe-haven assets after Israel's strike on Iran heightened Middle East tensions.

Spot Gold peaked at $3,452.41 at the weekly opening, retreating towards the current $3,400 price zone throughout the day. The bright metal benefited from weekend headlines spurring risk aversion amid an escalating conflict between Israel and Iran. Middle East tensions continue, but the mood somehow improved, weighing on the bright metal.