Gold rate today: Gold prices extended gains on Tuesday as investors seek safety amid rapidly escalating tensions in West Asia. Coordinated military strikes by the United States and Israel on Iran have rattled global markets, triggering a classic flight to safe-haven assets.
The situation worsened after Iran’s Islamic Revolutionary Guard Corps (IRGC) announced the closure of the Strait of Hormuz — a critical chokepoint for global oil supply. Tehran also reportedly launched retaliatory strikes on US-linked assets across multiple neighboring countries including the UAE, Bahrain, Qatar, Saudi Arabia, Kuwait, Jordan, Iraq and Syria.
With fears of a prolonged and multi-front conflict rising, has surged back above the $5,300 mark, reinforcing its role as a hedge during geopolitical instability.
Spot gold was up 0.7% at $5,362.90 per ounce, as of 0452 GMT, exteding gains for the fifth session. In the previous session, bullion climbed to its highest point in more than four weeks after the U.S. and Israel launched strikes on Iran over the weekend. U.S. gold futures for April delivery were up 1.2% at $5,376.50.
Gold Price: $6000 by year end?
Historically, periods of heightened uncertainty drive investors toward bullion — and this time is no different. Rising geopolitical risk, elevated global debt levels and a complex macroeconomic environment have all combined to keep gold structurally supported.
Rick Kanda, Managing Director at The Gold Bullion Company, noted that the rally is part of a broader long-term trend.
“In early 2026, gold prices peaked at $5,500 an ounce, following a year in which its value had soared, with a long-term forecast for gold prices keeping its 2026 year-end forecast at $6,000.”
According to Kanda, investors should not treat gold as a reactive trade driven by headlines. He believes gold allocations should depend more on personal financial stability than short-term direction. In his view, gold should always be approached as a long-term wealth preservation strategy rather than a speculative instrument.
He emphasized that timing gold based purely on market swings misses the broader purpose of the asset.
“The time is right if you have the funds, you are in a financially stable position, and you’re looking for an investment that will store value long-term without thought towards any short-term price fluctuations.”
Kanda further explained that short-term volatility is natural in financial markets. Investors who have bought gold for long-term financial security should not lose confidence during temporary pullbacks. In his assessment, gold is a strategic asset meant for capital preservation over cycles, not quick gains.
Gold has seen sharp swings in recent weeks, but Bank of America remains firmly bullish. Bank of America (BofA) has revised its 12-month price target for the precious metal to $6,000 per ounce, even as gold contends with some of the year’s most volatile policy developments, according to media reports.
Analysts at Bank of America said their outlook is anchored on three key factors: ongoing uncertainty surrounding Federal Reserve leadership, persistent fiscal deficits in the US, and structurally low investor allocations to gold.
Technical Outlook
Meanwhile, from a perspective, Renisha Chainani, Head – Research at Augmont, highlighted that gold’s breakout above the key $5,250 level (around ₹1,60,000) has strengthened bullish momentum.
“After decisively breaking above the key resistance level of $5,250 (~ ₹1,60,000), gold has resumed its upward trajectory and is now targeting $5,450 (~ ₹1,70,000) followed by $5,600 (~ ₹1,80,000) in the near term.”
She added that strong support now lies near $5,200 (around ₹1,58,000), and as long as prices remain above this zone, dips are likely to attract fresh buying interest.
For investors, the message appears consistent: geopolitical shocks may accelerate moves, but gold’s foundation remains broader and structural. Whether prices push toward $5,600 will depend on how the Middle East conflict evolves and how global macro data shapes monetary policy expectations.
For now, bullion remains firmly in favor — supported by uncertainty, technical strength and long-term demand.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.