Gold climbs past $5,000/oz as Iran tensions stoke haven bids

Gold rose back above $5,000/oz in Asian trading as renewed U.S.–Iran tensions boosted haven demand, with spot gold up about 2.3% to $5,060.28/oz and April futures up 2.9% to $5,078.96/oz. Gains followed reports of U.S. forces shooting down an Iranian drone and Iranian gunboats near a tanker in the Strait of Hormuz, even as talks between Tehran and Washington were expected later this week. Analysts say the rally is supported by haven demand, physical buying, and central-bank purchases, keeping gold up about 15% in 2026. Silver rose ~2.8% to around $87.50/oz and platinum ~3% to about $2,286/oz, with OCBC noting the strength could persist and projecting further targets for year-end; some profit-taking after a prior run toward record highs was also noted.