Gold Targets $5,300 as Geopolitical Risks and USD Pressure Drive Gains

Spot gold prices extended their rally above $5,250, with analysts now setting a new price target at $5,300 per ounce. While US-Iran tensions remain the primary catalyst for safe-haven demand, the metal is also benefiting from increased pressure on the US Dollar. Market participants are shifting their focus toward upcoming macroeconomic indicators, specifically the ISM data and the highly anticipated Jobs report. Notably, the significance of US PPI data has diminished as geopolitical uncertainty takes center stage in driving price action. Analysts suggest that the combination of regional instability and USD weakness will likely sustain the current bullish momentum for XAU/USD. Consequently, the yellow metal continues to serve as a critical hedge against both political conflict and shifting economic expectations.