Meanwhile, Iran is holding a massive funeral ceremony for the former Supreme Leader Ayatollah Ali Khamenei who was assassinated in a U.S.-Iran military operation on Feb. 28.
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Khamenei’s body will lie in state in Tehran’s Grand Mosalla from July 3 ahead of the burial in his hometown of Mashhad on July 9. The country is observing a long mourning period amid a fragile pause in hostilities with Israel and the U.S.
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Hyperliquid trader buys millions in gold
Amid the broader geopolitical turbulence due to Trump’s global tariff war and the war in Europe, gold’s price had already been hitting new record-high prices over the past months.
Crypto traders have also not wasted any chance to trade the volatile asset on Hyperliquid.
Seen as a safe haven asset amid times of unrest, inflation, and currency debasement, the gold contract’s price reached as high as $5,570 on Jan. 29 this year.
Though the contract’s price has declined since then but the Iran war had a significant impact on the price. In fact, the precious metal’s price hit north of $5,400 in early March.
But the tug of war between the U.S. and Iran amid ongoing negotiations has made the market resilient. Subsequently, the metal’s price has dropped in the following months.
As per Hyperbot, the trader is sitting on an unrealized profit of more than $4,650 at press time.
The gold contract on Hyperliquid was trading at $4,166 at the time of writing, up 1% in a day.
