As global equity markets fell and that tensions between the United States and Iran remained, gold prices rose on Friday, rebounding after a sharp drop during the session previous.

Spot gold climbed 1.9% to $4,859.43 the ounce at 09:23 GMT, while American gold futures for Deliveries in April fell 0.1% to $4,883.10 per ounce. According to Kelvin Wong, senior market analyst at OANDA, “Gold volatility should remain important in the short term, with movements between $5,169, which is the main short-term resistance, and the key support at $4,400.”

Gold, a traditional safe haven, gets by generally well in times of geopolitical and economic uncertainty. Gold fell by 0.1% over the week, while silver lost more than 12% after falling 18% the previous week, its biggest drop weekly since 2011.

Spot silver rose 4.2% to $74.22 per ounce on the day, after having fallen below $65 per ounce during the morning Asian session.

Spot platinum has gained 0.9% to $2,004.85 per ounce, while palladium rose 2.3% to $1,653.13. However, both metals remained down during the week