Will gold (XAU/USD) reach or exceed 5,600 amid escalating Middle East tensions?

Gold surged more than 2.5%, opening with a bullish gap near 5,400 after U.S. and Israeli strikes on Iran intensified geopolitical uncertainty. Safe-haven demand has strengthened, with technical indicators supporting further upside: MACD remains firmly positive and RSI is approaching overbought territory. Key resistance stands at 5,420, followed by the record high near 5,597. A sustained breakout above this zone would signal a continuation of the broader uptrend and open the path toward new all-time highs. However, failure to break higher could trigger a pullback toward 5,250 or even 5,100 if risk sentiment stabilizes. The uncertainty lies in whether geopolitical tensions continue driving capital into gold — or whether markets cool, limiting upside momentum.