Safe-haven demand drove gold to open sharply higher on Monday
2024-04-14 22:26:14
Gold rallied as much as 1.2 percent, or $2,372 an ounce, at the start of the Asian session as Iran's weekend attack on Israel boosted demand for safe-haven assets. As the conflict in the Middle East enters a dangerous new phase, gold prices are nearing Friday's record high. More than 300 drones and missiles were fired at Israel by Iran on Saturday night, but most were intercepted and no fatalities were reported. Crude oil opened slightly higher, while safe-haven currencies did not gain much.
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