ISTANBUL

Spot gold exceeded $4,500 per ounce on Friday, recovering losses as the Middle East conflict continues.

Gold traded at $4,540 per ounce as of 1530GMT Thursday, up 3.75% on the day.

Gold prices have fallen around 12% since the conflict began on Feb. 28 and were trading well below their January 2026 record high of $5,595 per ounce.

Last week, the price of gold saw its biggest weekly drop since 1983, losing more than 10%.

The price of silver per ounce also saw an increase, up over 4.6% to $71.2 per ounce.