Middle East tensions push gold up as investors look for safety

Written by Amin Haqshanas , Staff Writer Reviewed by Bryan O'Shea , Staff Editor Middle East tensions boost gold as investors seek safe havens 2 hours ago Escalating US-Iran tensions are boosting safe-haven demand, with gold attracting investors while equities and Bitcoin face pressure. Listen 0:00 News Cointelegraph in your social feed Follow our Join our Rising tensions in the Middle East are pushing investors toward safe-haven assets, with gold demand climbing as investors flee equities and crypto markets. On Wednesday, reports revealed that Iran has sharply increased crude oil exports, with shipments from Kharg Island reaching 20. 1 million barrels between Feb. 15 and Friday, about three times January’s level, as a preemptive supply release and a hedge against possible disruption if tensions with the United States escalate. At the same time, increasingly hawkish US rhetoric regarding Iran’s nuclear program has raised expectations of confrontation, according to Bitunix analysts. “In the event of a direct US–Iran military conflict, gold could rise by roughly 15% within two weeks on safe-haven demand, targeting a range of $5,500-$5,800 per ounce,” the analysts wrote in a note shared with Cointelegraph. Crypto markets also remain sensitive to the macro forces, the analysts said, noting that safe-haven flows into the US dollar could pressure Bitcoin ( BTC ) prices toward the $64,000-$65,000 zone.