Gold price today, Friday, March 27: Gold strengthens after President Trump extends Hormuz deadline

What: Gold prices rose **$15.50** to **$1,945.25** per ounce on Friday, March 27, as investors sought safe-haven assets following the Hormuz deadline extension.
Why: The extension of the Hormuz deadline by President Trump led to increased tensions in the region, causing investors to flock to gold as a safe-haven asset.
Signal: The sharp rise in gold prices indicates a growing concern among investors about the potential for conflict in the Middle East.
Target: Analysts expect gold prices to reach **$2,000** per ounce in the coming weeks if tensions in the region continue to escalate.
Risk: A potential military conflict in the Middle East could lead to a significant spike in gold prices, with some analysts predicting a rise to **$2,200** per ounce.