Gold prices rose Friday as escalating U.S.-Iran tensions and lower European bond yields boosted demand for safe-haven assets.
Spot gold gained 0.7% to $5,032.49 an ounce, though it remained on track for a modest 0.2% weekly decline.
U.S. gold futures for April delivery advanced 1.1% to $5,052.70 in early trading.
Declining euro zone government bond yields reduced the opportunity cost of holding non-yielding bullion, supporting prices.
Geopolitical risks intensified after President Donald Trump warned Iran to reach a nuclear deal within 10 to 15 days.
Investors are closely watching U.S. core PCE data, the Federal Reserve’s preferred inflation gauge, expected to rise 0.3%.
Markets widely anticipate the Fed will keep rates steady in March, a backdrop that typically favors non-yielding bullion.
Elsewhere, silver, platinum, and palladium posted strong gains, positioning all three metals for solid weekly advances.
