Gold prices rose on Monday after the US and Israel launched major strikes on Iran, killing Supreme Leader Ali Khamenei, escalating geopolitical tensions and deepening global economic uncertainty. <\/p>\n
Spot gold was up 1.37% at $5,349.44 an ounce, as of 0439 GMT, after hitting its highest point in more than four weeks. Earlier in the session, bullion prices climbed as much as 2%. <\/p>\n
US gold futures rose 2.21% to $5,362.60 per ounce. <\/p>\n
Israel launched a new wave of strikes on Tehran on Sunday and Iran responded with \u200cmore missile barrages, \u200ca day after the killing of Khamenei \u200cpitched \u2060the Middle East \u2060and the global economy into deepening uncertainty, Reuters said. <\/p>\n
“Unlike previous escalations in this conflict, there is fairly strong incentive here for both sides to continue to escalate potentially – and that runs the risk of leading to a pretty chaotic, uncertain and therefore volatile environment for more than just a few days … the dynamic for gold is pretty positive” \u2060said Kyle Rodda, senior financial market analyst at Capital.com. <\/p>\n
However, \u200cthe US dollar index rose \u200c0.27%, making gold more expensive for overseas buyers and capping the metal’s \u200cgains. <\/p>\n
Bullion, a traditional safe-haven asset, has hit successive record highs \u200calready this year due to heightened global political and economic uncertainty. <\/p>\n
The latest rally builds on a 64% surge in 2025, driven by strong central bank buying, robust inflows into exchange-traded funds and expectations of US monetary \u200cpolicy easing. <\/p>\n
“Gold is perhaps the finest barometer to reflect global uncertainty and, to mix metaphors, the \u2060mercury is \u2060rising. We should expect gold to be repriced higher to fresh records as we enter a whole new era of geopolitical uncertainty,” said independent analyst Ross Norman. <\/p>\n
Meanwhile, data on Friday showed that US producer prices rose more than expected in January, suggesting inflation could pick up in coming months. <\/p>\n
Investors will also watch a series of US labor market readings this week, including the ADP employment report, weekly jobless claims and the non-farm payrolls report. <\/p>\n
Spot silver shed 0.3% to $93.54 per ounce, after registering a monthly gain in February. <\/p>\n
Spot platinum was roughly steady at $2,363.26 per ounce, while palladium advanced 0.86% to $1,801.50. <\/p>\n","protected":false},"excerpt":{"rendered":"Gold prices rose on Monday after the US and Israel launched major strikes on Iran, killing Supreme Leader…\n","protected":false},"author":2,"featured_media":317462,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[85,46,43],"class_list":{"0":"post-317461","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-israel","8":"tag-il","9":"tag-israel","10":"tag-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/317461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=317461"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/317461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/317462"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=317461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=317461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=317461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}