SPDR Gold Trust Jumps 2% as Spot Gold Hits $5,418 on Regional Conflict
SPDR Gold Trust shares jumped over 2% Monday as spot gold briefly reached $5,418.50 on escalated U.S.–Israeli strikes against Iran and expanding regional attacks. Heightened safe-haven demand, restricted physical flows in Dubai and a 23% year-to-date rally following last year’s 64% surge underpin continued ETF inflows.
1. Price Movement
SPDR Gold Trust shares climbed 0.71% to approach their 52-week high after spot gold leapt over 2% to $5,418.50 earlier in the session before settling near $5,285. U.S. gold futures remained up about 1%, reflecting strong ETF buying and profit-taking dynamics.
2. Geopolitical Drivers
The intensified U.S.–Israeli air campaign against Iran, subsequent missile and drone strikes on Israel, Gulf states and a British base in Cyprus, plus Hezbollah exchanges in Lebanon, drove safe-haven demand. Attacks on Qatar Energy’s LNG facilities and Saudi Aramco’s Ras Tanura refinery added to regional risk perceptions.
3. Market Outlook
Gold’s 23% year-to-date gain builds on a 64% rally last year as central banks reduce dollar exposure and lift bullion reserves. Physical flows in and out of Dubai are expected to tighten due to flight cancellations, potentially further supporting prices and ETF inflows.