Dawn
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06:50 Feb 04, 2026
Gold prices extended gains on Wednesday on safe-haven appeal, as renewed geopolitical tensions between the US and Iran added to the yellow metal’s recent upswing that saw it mark its best day since 2008 in the previous session. Spot gold gained 2.7 per cent to$5,071.79 per ounce as of 03:53 GMT, after surging 5.9pc on Tuesday, its biggest daily gain since November 2008. Bullion scaled a record high of $5,594.82 last Thursday. US gold futures for April delivery climbed 3.2pc to $5,092.0 per ounce. “Gold has climbed back about the key $5,000 level, … (as) geopolitical tensions have lifted the metal’s safe-haven appeal after US forces downed an Iranian drone,” said Jigar Trivedi, a senior research analyst at IndusInd Securities. The US military on Tuesday shot down an Iranian drone that “aggressively” approached the Abraham Lincoln aircraft carrier in the Arabian Sea, the US military said, in an incident first reported by Reuters. Nuclear talks between the US and Iran are expected to take place in Oman on Friday...