Gold prices are surging as investors seek safe havens following U.S. and Israeli strikes on Iran. Market analysts predict an initial spike of around $200 per ounce as tensions escalate, with PAX Gold already trading at a premium of $5,344 per ounce. Traditional exchanges remain closed, but digital proxies show strong weekend buying activity.

Edward Meir of Marex expects a knee-jerk reaction across commodity markets, though he warns the initial rally may fade once markets assess whether oil flows will be disrupted. Tim Waterer of KCM Trade anticipates gold will be in higher demand when markets open Monday, as investors look to park funds amid uncertainty about the conflict's duration and potential regional escalation.

Fawad Razaqzada of City Index projects gold could reach $5,500 per ounce, potentially breaking January's record high of $5,600. However, Tai Wong notes that gold and silver could initially sell off on the open before finding buyers as the situation in Iran remains unclear. The market's reaction highlights gold's role as a traditional safe haven during geopolitical crises.