Gold Prices Steady in Asia, Set for Strong February Gains on Safe-Haven Demand

Gold prices held firm during Asian trading on Friday, positioning the precious metal for solid monthly gains as rising geopolitical tensions and global economic uncertainty boosted safe-haven demand. Investors continued to seek stability in bullion amid disruptions in U.S. trade policy and signs of slowing growth in major economies.

Spot gold increased 0.2% to $5,194.02 per ounce by 21:14 ET (02:14 GMT), while gold futures climbed 0.3% to $5,211.41 per ounce. The upward momentum reflects renewed investor confidence after gold rebounded sharply from early-February lows. For the month, spot gold is up 6.7%, recovering most of the losses recorded during a brief speculative selloff in late January.

Escalating geopolitical tensions surrounding Iran have been a major catalyst for higher gold prices. The United States recently expanded its military presence in the Middle East and warned of possible action if Tehran failed to agree to a nuclear deal. Although the latest round of U.S.-Iran talks ended without a formal agreement, both parties signaled plans for further negotiations, offering cautious optimism to markets.

Uncertainty over the U.S. economy has also supported gold’s rally. A recent U.S. Supreme Court decision struck down much of former President Donald Trump’s trade tariff framework, creating fresh volatility in financial markets. However, Trump quickly announced alternative tariff measures under a different legal structure and hinted at additional levies, intensifying concerns about ongoing trade disruptions and economic slowdown.

Other precious metals also posted strong February performances. Spot silver advanced 1.7% to $89.7785 per ounce, marking a 6% monthly gain. Platinum surged 3% to $2,351.63 per ounce and is up 8.4% this month. With geopolitical risks and trade uncertainty persisting, analysts expect gold and other safe-haven assets to remain well supported in the near term.