Precious metals on-chain contracts saw significant gains as geopolitical tensions between the U.S. and Iran escalated, prompting a shift to risk-off assets. Gold prices briefly surged to $5,386 per ounce, while silver reached $96.30. Loracle, an early contributor to Hyperliquid, reported a 27% increase in the unrealized profit of his largest on-chain PAXG position, now valued at $460,000. The position, worth $8.42 million, was acquired at an average price of $5,047 per ounce. Loracle, formerly known as Laurent Zeimes, is a prominent figure in the Hyperliquid ecosystem and the founder of Hypurrfun.