Gold edged above $5,000 an ounce on Friday as rising U.S.-Iran tensions fueled safe-haven demand for the precious metal.
Spot gold jumped 0.7 percent to $5,032.83 an ounce while U.S. gold futures were up 1.11 percent at $5,052.75.
U.S.-Iran tensions intensified after U.S. President Donald Trump warned Tehran that it had a "maximum" 15 days to reach a deal with the U.S. or "bad things will happen".
With potential U.S. military action looming, Iran has warned that U.S. bases in the Middle East could be "legitimate targets" if Washington attacks.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.