Gold Prices Surge 0.4% Amid Israel-Iran Tensions

Gold prices surged on Monday, nearing a two-month high as tensions between Israel and Iran escalated, prompting investors to seek safe-haven assets. Spot gold rose 0.4% to 3447.07 dollars per ounce, briefly reaching its highest level since April 22. U.S. gold futures also gained 0.4%, reaching 3467.20 dollars per ounce.

Israel and Iran exchanged new rounds of attacks over the weekend, causing civilian casualties and raising concerns of a broader regional conflict. Both sides urged each other's civilians to take preventive measures against further attacks. U.S. President Donald Trump expressed hope for a ceasefire between Israel and Iran but acknowledged that sometimes nations must fight to determine a victor.

The Federal Reserve is scheduled to hold a policy meeting from June 17 to 18, with a decision expected on Wednesday. While it is widely anticipated that the Fed will keep interest rates stable, the market is eagerly awaiting signals of potential rate cuts in the coming months.

Spot silver fell 0.2% to 36.23 dollars per ounce; platinum rose 0.6% to 1234.47 dollars; and palladium increased 0.9% to 1036.58 dollars.

Investors are closely monitoring the situation as the conflict between Israel and Iran continues to escalate. The heightened geopolitical risks have driven up the demand for safe-haven assets like gold, which is seen as a reliable store of value during times of uncertainty. The conflict has also raised concerns about potential disruptions to global oil supplies, further fueling the demand for gold as a hedge against inflation and economic instability.

The escalating tensions between Israel and Iran have led to a significant increase in gold prices, as investors seek safe-haven assets amid the uncertainty. The conflict has raised concerns about potential disruptions to global oil supplies, further fueling the demand for gold as a hedge against inflation and economic instability. The situation remains fluid, and investors are closely monitoring developments as the conflict continues to unfold.

As the conflict between Israel and Iran continues to escalate, investors are turning to gold as a safe-haven asset. The heightened geopolitical risks have driven up the demand for gold, which is seen as a reliable store of value during times of uncertainty. The situation remains fluid, and investors are closely monitoring developments as the conflict continues to unfold.