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Global Gold Prices Rise After Israel-US Attacks on Iran
(MENAFN) Global gold prices surged on Monday following the weekend’s major US and Israeli strikes on Iran, reflecting heightened geopolitical uncertainty in the region.
Spot gold rose 2.44% to $5,406 per ounce by 10:15 a.m. (0715GMT), marking a significant jump as investors sought refuge in safe-haven assets amid escalating conflict. Silver also gained, climbing 2.05% to $95.8 per ounce.
Analysts noted that the effective closure of the Strait of Hormuz continues to weigh on global markets, contributing to ongoing volatility. Historically, investors turn to precious metals to hedge against uncertainty during military conflicts.
Spot gold rose 2.44% to $5,406 per ounce by 10:15 a.m. (0715GMT), marking a significant jump as investors sought refuge in safe-haven assets amid escalating conflict. Silver also gained, climbing 2.05% to $95.8 per ounce.
Analysts noted that the effective closure of the Strait of Hormuz continues to weigh on global markets, contributing to ongoing volatility. Historically, investors turn to precious metals to hedge against uncertainty during military conflicts.
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