Gold and silver prices rose Friday as tensions between the United States and Iran increased. Traders looked to safe-haven assets to protect their investments.
Gold traded near $5,000 per ounce, up around 0.5–0.6% in 24 hours. The metal approached a key resistance level. Analysts said a small daily gain could push gold toward its all-time high.
Silver also climbed, reaching the upper $70s. It broke out of a triangle pattern in early trading. Traders watched if current levels would hold as support for further gains.
Bitcoin traded near $67,900, up about 1% in a 24-hour period. The cryptocurrency faced technical challenges within a bear-pennant pattern. Analysts said holding key support was important to avoid further decline.
Weekly charts showed Bitcoin’s Stochastic RSI at historically low levels. This suggested the potential formation of a price bottom. Observers noted strong buying after dips below support.
The correlation between traditional assets like gold and silver and cryptocurrencies remains debated. Market participants are watching how geopolitical events influence both.
Analysts warned that further escalation in US–Iran tensions could continue to drive safe-haven buying. Traders will closely watch gold, silver, and Bitcoin in the coming sessions.
At the time of publication, gold hovered around $5,000 per ounce, silver in the high $70s, and Bitcoin near $67,000. Markets remain cautious as geopolitical uncertainty persists.
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