Global Gold Prices Rise After US-Israel Strikes on Iran
The safe-haven metal climbed more than 2%, with spot gold reaching $5,406 an ounce by 10:15 a.m. local time (0715 GMT), up 2.44% from previous levels.
Investors traditionally turn to precious metals as a hedge against uncertainty during periods of military conflict, and other metals also gained. Silver, for instance, rose 2.05% to $95.8 per ounce.
Market analysts noted that the effective disruption of the Strait of Hormuz continues to be a major factor influencing global financial volatility in the coming days.
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