Bullion climbed as much as 1.2% to $2 400.67, while silver traded at the highest since February 2021.
Gold jumped to another record as the safe haven asset was boosted by simmering Middle East tensions. Israel is preparing for an assault from Iran in the next two days, in retaliation for its strike on the country’s diplomatic compound in Syria last week, the Wall Street Journal reported, citing a person familiar with the matter.
Gold prices are up again this morning, as more investors view it as a better hedge against geopolitical risk than government bonds due to US inflation concerns,” Mohamed A. El-Erian, the president of Queens’ College in Cambridge and a Bloomberg Opinion columnist, wrote in a post on X.
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