Gold prices surge to $4,593 per ounce amid investor demand

Gold prices jumped sharply on March 25, climbing roughly 4% as global investors sought refuge in the precious metal, according to Caliber.Az, citing international media.

As of 09:21 Baku time, June gold futures on the NYSE Comex rose $159.20 or 3.59% from the previous close, reaching $4,593.30 per troy ounce. Meanwhile, May silver futures increased 5.38% to $73.315 per ounce.

 "As USD strength eased, safe-haven demand starts to reassert. This reinforces the ​view that gold didn't lose its safe-haven appeal. It was briefly crowded out by the USD, ​and now that pressure is easing," Christopher Wong, a strategist at Oversea-Chinese Banking Corp., told Reuters.

Market participants are also closely monitoring developments in the Middle East, which continue to influence global investor sentiment and commodity markets.