-
Safe-haven gold soars as investors bolt for safety from Middle East clashes
Gold prices climbed 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 spurred a rush to safe haven investments like bullion. Israel pounded the Palestinian enclave of Gaza on Sunday, killing hundreds of people in retaliation for one of the bloodiest attacks in its history when group Hamas rampaged through Israeli towns on Saturday. Spot gold jumped 1% to $1,849.51 per ounce by 0317 GMT, having hit its highest level in a week. US gold futures climbed 1.1% to $1,863.70. “Gold has regained its safe-haven status following the ... (full story)