Gold just skyrocketed to its second-highest price in history, as global markets react to intensifying conflict in the Middle East and economic uncertainty.
The price of gold futures surged to $3,447.02 per ounce, just shy of its all-time record. Spot gold rose 0.9% to $3,417.10, while on the Multi Commodity Exchange (MCX), gold prices in India hit Rs 1,00,403 per 10 grams, marking a new milestone.
Investors are rushing for safe-haven assets as Israel’s military operation against Iran escalates. With Iran launching retaliatory missile strikes, markets are bracing for potential disruptions, especially in oil, which is already seeing sharp price increases.
Gold has always been the go-to asset when things get turbulent, and today’s price surge shows just how uneasy investors are. Meanwhile, Bitcoin, often referred to as a future rival to gold as a safe haven, was able to hold on to its price throughout the day.
Bitcoin Withstands Yesterday’s Selling Pressure
As the news broke yesterday of the attack, Bitcoin, alongside all financial markets, took a sharp plunge, descending from $109,000 to as low as $102,000 in the day.
However, the market-leading cryptocurrency was able to withstand this Friday’s negative sentiment, gaining 1.65% in value over the last 24 hours. Currently, the asset trades at $105,551, at a 0.9% increase over the week.
While in the past, Bitcoin hasn’t proven its worth as a store of value and hedge against inflation in previous economic hardships, this time, the asset could be ready to safeguard investors’ assets more adequately.
Institutional adoption of Bitcoin has skyrocketed in 2025, with major financial firms integrating BTC into their portfolios and offering regulated investment products like Bitcoin ETFs. Governments and corporations now hold nearly one-third of Bitcoin’s total supply, signaling a shift toward sovereign and institutional-level infrastructure.
This makes Bitcoin as an asset a lot more probable to emerge as a legitimate hedge against inflation and economic uncertainty. As traditional financial systems face increased volatility, Bitcoin’s growing institutional adoption and presence in government treasuries reinforce its credibility as a store of value.
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