Gold, Silver and Oil Surge Together, Gold Nears $5,300 as Silver Rises for 10th Straight Month

TradingKey - Gold, silver, and oil rallied collectively; Gold (XAUUSD) rose nearly 2% on the day to close at $5,280/oz, nearing the $5,300 mark, while Silver (XAGUSD) recorded its tenth consecutive monthly gain, closing up over 6% to approach $94. Front-month WTI crude oil futures rose over 3% to settle at $67.29.

On the news front, countries including the U.S., Canada, and India have successively advised their citizens to evacuate Iran. The USS Gerald R. Ford carrier has arrived in Israel, forming a dual-carrier presence with the previously deployed USS Abraham Lincoln, while nearly 20 aerial refueling tankers have been stationed in Israel. Observers believe the risk of conflict between the U.S. and Iran has risen significantly.

Iran warned that it would provide a "devastating response" to any acts of aggression and stated it is fully prepared. U.S. President Trump expressed that he is "unsatisfied" with the progress of the Iran nuclear negotiations but has not yet made a final decision on whether to take military action.

Although the U.S. and Iran agreed to continue negotiations in Vienna, Austria, on March 2, the market remains concerned that the situation could escalate rapidly, driving capital flows into safe-haven assets such as gold, silver, and crude oil.