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Spot Gold Blasts Through $5,500 as Iran Strike Fears Ignite Safe-Haven Frenzy

The yellow precious metal ripped to fresh record highs above $5,555, extending its explosive run, as reports that President Trump is considering a new strike on Iran reignited geopolitical fear and sent safe-haven demand into overdrive, with a softer US dollar and ongoing policy uncertainty adding fuel to the move. Spot gold surged past $5,595, brushing off the Fed’s steady-rate decision as markets focused squarely on escalating Middle East risk, keeping bullion firmly bid despite already extreme levels. Technically, momentum remains constructive, with the RSI positive but extremely overbought, the MACD bullish, and the ADX pointing to a strengthening bull trend. However, with the $5,500 target now achieved, it is time to re-evaluate the next phase of the move. That said, bulls could now be eyeing $6,000. Reassess from there.

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