XAUUSD Breaks Key Support as Geopolitical Risks Propel Gold to New High
Over the past three trading days, XAUUSD has shown notable volatility, with gold prices rising sharply from around $5278 on February 27 to close at $5338 on March 2. The spike was driven primarily by geopolitical tensions following the death of Iran’s Supreme Leader and the Strait of Hormuz blockade, driving demand for safe-haven assets. Ongoing US-Iran talks further contributed to market cautiousness but maintained a bullish bias. From retail investors to institutions, gold is seen as a key safe haven amidst uncertainty, suggesting ongoing volatility and opportunity in the near term.


