Gold hits all-time high above $2,450 on Israel-Iran tensions

Gold has surged to a new record high above $2,450 per ounce, gaining 1.2% as escalating Israel-Iran tensions drive safe-haven demand. The precious metal's rally accelerated after reports of potential military confrontations in the region, prompting investors to seek defensive assets. USD/JPY has pulled back to 154.50 as risk-off sentiment benefits the yen, while EUR/USD trades cautiously near 1.0830. The gold rally reflects growing concerns about Middle East stability despite diplomatic efforts, with traders pricing in higher geopolitical risk premiums. Technical indicators show gold breaking through previous resistance at $2,430, with momentum indicators suggesting further upside potential toward $2,500. Support has formed at $2,420 (previous record level). The sustained elevation in gold prices indicates persistent market anxiety about regional conflicts, which could continue supporting precious metals while weighing on risk-sensitive currency pairs.