Gold extended its remarkable 2025 rally on Friday, rising about 1.5% to $3,446 per ounce in New York morning trading as safe-haven demand accelerated following Israel’s overnight airstrikes on Iran’s nuclear and missile infrastructure — a move that threatens to destabilize an already volatile Middle East.
Israel’s targeted strikes reportedly destroyed key components of Iran’s nuclear facilities and killed senior military officials, including the head of the Islamic Revolutionary Guard Corps.
Iran has vowed retaliation, raising fears that oil supply routes through the Strait of Hormuz could be compromised. This, alongside broader fears of a regional war, has rattled markets and pushed investors into traditional safe havens.
With Friday’s gains, gold is now up 31% year-to-date through June 13, marking its strongest first-half performance in over four decades. The last time bullion posted a bigger six-month gain was in the second half of 1982, when it climbed 42%. On a rolling six-month basis, the current rally is the strongest since the 2007–2008 financial crisis period.
Gold — as tracked by the SPDR Gold Trust (NYSE:GLD) — is now just shy of its April record high of $3,500, with renewed momentum pushing it closer to a fresh peak.
Yet, analysts say investors remain underexposed to the yellow metal, raising the possibility that fear of missing a major bull …