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Gold prices surge as Israel-Iran tensions intensify
16 Jun 2025

Gold prices have surged, nearing a record high, amid an intensifying conflict between Israel and Iran.

The precious metal rose by up to 0.6% in Asia, coming close to $3,450 per ounce—just $50 shy of an all-time high set in April.

The weekend saw both countries exchange missile and drone strikes, raising energy prices due to potential threats to regional energy infrastructure and transport systems.

In other precious metals, silver saw a slight decline while platinum and palladium recorded gains.

Gold prices have surged over 30% in 2025
Market dynamics

The recent spike in geopolitical risk has further fueled a rally largely driven by fears of global economic growth due to President Donald Trump's aggressive tariff policies.

Gold prices have surged over 30% in 2025, with central banks looking to move away from the dollar also playing a major role.

"Prices are still very close to the record, and given the geopolitical situation any further escalation will push them higher," said John Feeney, an analyst at Guardian Gold Australia.

'Gold has performed very well as a haven recently'
Investment trends

Feeney also noted that "Gold has performed very well as a haven recently, and it seems a lot of investors are moving funds out of US bonds and into the metal over the longer term."

The precious metal's 1.4% jump on Friday came after weak US inflation and jobs data raised expectations that the Federal Reserve would cut interest rates later this year, further boosting gold prices.