Amid a stock market downturn and ongoing tensions between the US and Iran, safe-haven demand has driven up gold prices.

According to ME News, on Friday, February 6 (UTC+8), spot gold rebounded after a sharp sell-off in the previous trading day. Gold received some support due to weakening global stock markets and lingering tensions between the US and Iran, despite the CME Group raising margin requirements for precious metals to mitigate risk. Kelvin Wong, senior market analyst at OANDA, stated, "We did see some safe-haven inflows, but it's important to note that the market remains cautious after Friday's sell-off…Concerns about US-Iran tensions persist." He added, "Gold prices are likely to be volatile in the short term." The global stock market sell-off on Wall Street spread to Asia on Friday, with benchmark indices in most regions closing lower. Furthermore, the US dollar index hovered near a two-week high, putting pressure on precious metal prices this week. (Source: ME)