Gold futures opened at $5,201.90 per ounce on Friday, marking a 0.1% increase from Thursday's close of $5,194.20. The precious metal has maintained levels above $5,100 per ounce since Monday, February 23, reflecting heightened investor demand for safe-haven assets amid escalating Middle East tensions.

This upward momentum follows a broader 2.8% gain in gold prices, driven by increased market volatility and geopolitical uncertainty. The sustained price levels above $5,100 represent a significant psychological threshold for traders and investors, potentially signaling a new trading range for the commodity.

The price action demonstrates gold's traditional role as a hedge against geopolitical instability, with investors seeking refuge in the precious metal during periods of heightened uncertainty. The continued strength above $5,100 per ounce suggests sustained institutional and retail interest in gold as a portfolio stabilizer during turbulent times.