Rebounding from yesterday's plunge, gold prices have surged on Friday amid an escalation of gulf conflict after Iran's military asserted taking full control of the Strait of Hormuz, even while the U.S. paused attacks on Iranian energy assets, seeking a diplomatic resolution to the crisis.
Front Month Comex Gold for April month delivery has soared by $136.10 (or 3.11%) to $4,512.40 per troy ounce.
Front Month Comex Silver for April month delivery has also skyrocketed by $3.133 (or 4.63%) to $70.830 per troy ounce.
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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.