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Gold soars as investors bolt for safety from Middle East violence
Gold prices rose more than 1% on Monday as dramatic clashes between Israeli and Hamas forces over the weekend raised the risk of a wider Middle East conflict and boosted demand for safe-haven assets like bullion. Fundamentals: * Spot gold XAU= jumped 1% to $1,850.87 per ounce by 0056 GMT, having hit its highest level in a week. U.S. gold futures GCcv1 climbed 1.1% to $1,865.20 per ounce. * Hamas fighters rampaged through Israeli towns as the country suffered its bloodiest day in decades on Saturday. Israel battered Palestinians with air strikes in Gaza on Sunday, with hundreds reportedly killed on both sides. * The ... (full story)