PRECIOUS-Gold jumps to 4-month peak as Middle East tensions spark safety buying - Reuters:
Gold prices surged on Friday to a
four-month peak, racing past the key $1,550 an ounce level after
a U.S. air strike in Iraq killed the commander of Iran's elite
Quds Force, prompting a rush into safety assets.
Spot gold rose 1.3% to $1,548.94 per ounce as of 1:31
p.m. EST (1831 GMT), having risen to $1,553.20 earlier in the
session, its highest since Sept. 5.
U.S. gold futures settled 1.5% higher at $1,552.40.
The overnight attack was a dramatic escalation in a "shadow
war" in the Middle East between Iran and the United States and
its allies, principally Israel and Saudi Arabia. Iran threatened
to retaliate after the air strike.
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