Gold surges back above $4,050 amid safe-haven rush

Gold rebounded above the $4,050 per ounce mark in Asian electronic trading on Friday, recovering from the previous session's nearly 2% decline as a weaker US dollar and renewed safe-haven demand lifted prices. Investors turned defensive amid escalating Middle East tensions, with fresh US warnings against Iran and the Houthis, while new tariff measures on major trading partners heightened global trade uncertainty. On the domestic front, MCX August gold futures traded marginally higher at Rs 1,42,970 per 10 grams after rebounding sharply from an intraday low of Rs 1,41,742, reflecting improved buying interest despite persistent inflation concerns from elevated crude oil prices.

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