Gold futures opened at $5,201.90 per ounce on Friday, marking a 2.8% increase as tensions escalated between the U.S., Israel, and Iran. The precious metal has maintained prices above $5,100 per ounce since February 23, reflecting strong investor demand for safe-haven assets during geopolitical uncertainty.

Thursday's closing price of $5,194.20 set the stage for Friday's gains, with gold continuing its upward trajectory amid fears of a broader Middle East conflict. The sustained price levels above $5,100 represent a significant milestone for the commodity, indicating robust market confidence in gold's role as a hedge against geopolitical risks.

Market analysts note that gold's performance underscores its traditional function during periods of international tension. The metal's ability to maintain elevated prices suggests investors remain concerned about potential supply chain disruptions and economic fallout from the ongoing conflict, with many turning to gold as a stable store of value.