Gold prices extended gains for a fifth consecutive session amid escalating tensions in the Middle East, as investors turned to safe-haven assets.

According to market data, spot gold rose 0.7% to reach 5,362.90 dollars per ounce by 04:52 GMT. The rally follows recent US and Israeli airstrikes on Iran over the weekend, which pushed bullion to its highest level in more than four weeks during the previous session.

US gold futures for April delivery also climbed 1.2%, touching 5,376.50 dollars per ounce. Analysts say persistent geopolitical uncertainty is driving the surge, as investors seek protection against potential market volatility.

Also Read: Gold and silver prices surge amid crisis

Tim Waterer, Chief Market Analyst at KCM Trade, noted that the unclear scope and duration of the conflict are supporting demand for gold. He said the lack of clarity over how far tensions might escalate is encouraging investors to increase exposure to traditional safe-haven assets.

Market experts warn that fears of the conflict evolving into a prolonged regional war have deepened uncertainty across global markets. As a result, not only gold but other defensive investments are seeing increased inflows.

Investors remain cautious and are closely monitoring developments in the region, aware that any further escalation could have far-reaching economic consequences. Energy prices and equity markets have already shown signs of volatility in response to the crisis.