- Iran has announced a full closure of the Strait of Hormuz, escalating US-Iran tensions and impacting financial markets.
- Gold and silver prices have surged over 2% amid the conflict, adding $750 billion and $112 billion to their respective market caps.
- Financial expert Rashad Hajiyev forecasts silver could reach $250-$350 and gold $7,000-$8,000 if geopolitical tensions persist.
Geopolitical conflict erupted over the past weekend as hostilities between the US and Iran intensified, with Iran now announcing a full closure of the critical Strait of Hormuz. This action has swiftly sent shockwaves through global markets, prompting a flight to traditional safe-haven assets.
Consequently, gold and silver prices exploded at the market open, each jumping over 2%. The rally added nearly $750 billion to gold’s valuation and approximately $112 billion to silver’s market cap, according to data from Bull Theory. Gold now sits just 3% below another potential all-time high, signaling a powerful shift in investor sentiment.
Meanwhile, expert analysis suggests this could be merely the beginning of a larger trend. Financial analyst Rashad Hajiyev speculated that sustained conflict might trigger a parabolic run for precious metals. He stated, “What if a war in the Middle East is going to be a trigger for the start of a parabolic run in the precious metals?”.
Regarding specific price targets, Hajiyev was notably bullish. He indicated that his “$250 silver price is a very modest price target” and might even raise it to $350. For gold, his projections were similarly lofty, foreseeing a potential surge to between $7,000 and $8,000.
He emphasized that such dramatic price increases could materialize faster than many anticipate. “Not only could precious metals overshoot my $7-8k gold and $250 silver, but it could happen much sooner than most anticipate…” Hajiyev concluded. The markets now watch closely as the geopolitical situation continues to develop.
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