Gold Surges Amid Escalating Tensions in Middle East
Gold prices surged by up to 1.2% following Iran’s recent attack on Israel over the weekend, driving demand for safe-haven assets.
The precious metal remained near a record high achieved on Friday as the conflict in the Middle East intensified. Iran launched over 300 drones and missiles against Israel on Saturday, most of which were intercepted, with no reported fatalities.
As of 6:20 a.m. in Singapore, spot gold rose by 0.8% to $2,361.92 per ounce, continuing its rally that began in mid-February.
