Gold jumps more than 3% as bargain hunters eye Iran war risks
Global gold prices surged by more than 3% on Friday, March 27, as investors rushed back into the market due to escalating conflict in the Middle East. The rebound followed a steep pullback earlier in the week, with spot gold rising to $4,491.78 an ounce and US gold futures settling 2.7% higher.
Gold prices jumped over 3% on Friday, March 27. Spot gold rose 2.6% to $4,491.78 an ounce. US gold futures for April delivery settled 2.7% higher at $4,492.50. The rebound followed a steep pullback earlier in the week. The conflict in the Middle East has pushed up energy and fertilizer prices, fuelling broader inflation concerns. Other precious metals also moved higher, with spot silver gaining 2.2% and platinum rising 2.3%.
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