Gold prices rose for a fifth consecutive session on Tuesday, as investors sought safe-haven assets amid an escalating U.S. and Israeli air war against Iran.<\/p>\n
Srinophan69 | Moment | Getty Images<\/p>\n
Gold\u00a0prices rose for a fifth consecutive session on Tuesday, as investors sought safe-haven assets amid an escalating\u00a0U.S. and Israeli air war against Iran, raising fears the conflict could spiral into a protracted regional war and deepen uncertainty.<\/p>\n
Spot\u00a0gold<\/a>\u00a0was up 1% at $5,377.21 per ounce, as of 0122 GMT. In the previous session, bullion climbed to its highest point in more than four weeks after the U.S. and Israel launched strikes on Iran over the weekend.<\/p>\n U.S.\u00a0gold\u00a0futures<\/a>\u00a0for April delivery were up 1.5% at $5,391.90.<\/p>\n “The scope and duration of the conflict remain very much open-ended, and with those uncertainties in play,\u00a0gold\u00a0is capturing the lion’s share of safe-haven demand,” KCM Trade chief market analyst Tim Waterer said.<\/p>\n Iranian media reported that a senior official from the Islamic Revolutionary Guard Corps (IRGC)\u00a0said\u00a0on Monday the Strait of Hormuz has been closed and warned that Iran would fire on any ship trying to pass through the strategic waterway.<\/p>\n This is Iran’s most explicit warning since telling ships it was\u00a0closing the export route on Saturday, a move that threatens to choke a fifth of global oil flows and send\u00a0crude prices\u00a0sharply higher.<\/p>\n The dollar hovered close to a more than five-week high reached on Monday, supported by firm demand and cautious market sentiment.<\/p>\n While a firmer greenback typically makes dollar-denominated assets such as bullion more expensive for holders of other currencies, that inverse relationship is not absolute. In times of heightened uncertainty, such as escalating conflict or broader market volatility, investors often buy both the dollar and\u00a0gold\u00a0as safe-haven assets.\u00a0<\/p>\n “Gold\u00a0would arguably be trading higher than current levels were it not for dollar appreciation since the conflict intensified. Inflation worries are front and center for traders right now, given the direction of oil prices and reduced shipping volumes through the Strait of Hormuz,” Waterer added.<\/p>\n U.S. President Donald Trump\u00a0has vowed\u00a0to pursue the conflict for as long as necessary, while warning of a\u00a0“big wave”\u00a0of further attacks\u00a0coming soon, without providing specific details.<\/p>\n The attack on Iran has pitched the Gulf into war, killing\u00a0scores of civilians in Iran, Israel and Lebanon, thrown\u00a0global air transport into chaos and shut down shipping through the Strait of Hormuz.<\/p>\n Spot silver<\/a>\u00a0rose 1.4% to $90.67 per ounce on Tuesday, after climbing to a more than four-week high in the previous session.<\/p>\n Spot platinum<\/a>\u00a0added 0.6% to $2,316.50 per ounce, while palladium<\/a>\u00a0gained 1.6% to $1,795.08.<\/p>\n","protected":false},"excerpt":{"rendered":"Gold prices rose for a fifth consecutive session on Tuesday, as investors sought safe-haven assets amid an escalating…\n","protected":false},"author":2,"featured_media":319002,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[357,54,55842,22814,42,87,46,98023,47,158242,43,98025,55843,55844,55841,114994,3336,40,38,41,39,2488,2201],"class_list":{"0":"post-319001","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-business-news","9":"tag-donald-trump","10":"tag-gold-us-dollar-spot","11":"tag-gold-comex-dec25","12":"tag-headlines","13":"tag-iran","14":"tag-israel","15":"tag-metal-commodities","16":"tag-middle-east","17":"tag-military-events","18":"tag-news","19":"tag-platinum-us-dollar-spot","20":"tag-precious-metal-markets","21":"tag-precious-metals-industry","22":"tag-silver-us-dollar-spot","23":"tag-strait-of-hormuz","24":"tag-tehran","25":"tag-top-news","26":"tag-top-stories","27":"tag-topnews","28":"tag-topstories","29":"tag-trump-administration","30":"tag-war"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/319001","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=319001"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/319001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/319002"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=319001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=319001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=319001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}