The price of gold rose 3.3 percent to over $4,700 per ounce (31.1 grams), while the price of silver surged 6.2 percent to $77.40 per ounce.
The price of gold has fallen 11 percent since the US and Israel began a bombing campaign against Iran on February 28.
The cryptocurrency Bitcoin is following suit, rising to $82,250, the highest price since the end of January.
The appetite for cryptocurrencies and precious metals is increasing as stock markets around the world rise, while crude oil prices fall.
Market interest rates and the US dollar are also clearly under downward pressure.
