New Delhi, Feb. 19 -- Investors flocked to precious metals for the second straight session on Thursday, 19 February, as rising geopolitical tensions kept demand for safe-haven assets elevated. Investors also evaluated the Federal Reserve's monetary policy path.

Extending its winning run to a second day, the April futures contract on Comex rebounded $31.4 per troy ounce to hit an intraday high of $5,040. Overnight, gold prices jumped 2%, marking the biggest intraday gain in the past 10 trading sessions.

Tensions in the Middle East, which had appeared to ease recently, resurfaced after media reports suggested that the US military could launch a strike on Iran as soon as this weekend.

The development comes days after US and Iranian offici...