Gold added to sharp overnight gains on Thursday, rising above $5,000 an ounce after reports suggested the U.S. military is prepared to launch strikes against Iran as early as this weekend.
Spot gold rose 0.6 percent to $5,008.06 an ounce after a more than 2 percent gain in the previous session. U.S. gold futures were up 0.4 percent at $5,027.56.
Risk aversion gripped financial markets following reports that American military intervention in Iran may come sooner than expected.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.