Gold Jumps After Israel Launches Strikes on Iran’s Nuclear Sites

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FutureTrump’s Military Parade Has Washington Bracing for Tanks and WeaponryNYC Renters Brace for Price Hikes After Broker-Fee BanDo World’s Fairs Still Matter?As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention SpaceBullion climbed as much as 1.8% on haven demand from investors, before paring some gains. Israeli Prime Minister Benjamin Netanyahu said the operation would continue until the “threat” was removed. Iran vowed a “severe response” to the airstrikes and sent a wave of drones towards Israel.The US wasn’t involved in Israel’s attacks, according to Secretary of State Marco Rubio, but Iran said it would respond against America. Gold is trading around $60 below a record of $3,500.10 an ounce reached in April. Copper futures, a reliable gauge of sentiment on economic growth and trade, fell 0.6% to settle at $9,645 a metric ton on the London Metal Exchange.“The risk of Iranian retaliation, including threats to US bases, adds to the uncertainty and supports haven flows,” said Charu Chanana, a strategist at Saxo Capital Markets Pte. “With markets already on edge and risk sentiment deteriorating, gold is likely to stay bid as a hedge — not just against conflict risk, but also a possible spillover into inflation and volatility.”The move higher extended a two-day gain, after weak US inflation and jobs data fueled bets that the Federal Reserve will lower interest rates later this year.Gold has rallied more than 30% this year, as investors seek hedges against US President Donald Trump’s aggressive trade policies and geopolitical tensions, including in Ukraine. Strong demand from central banks and sovereign institutions has also supported prices.“Gold is probably the best thing that we added to our portfolios in the middle of last year,” said Mark Andersen, co-head of global asset allocation at UBS Switzerland AG on Bloomberg TV. “It’s both helping us when we see rising tensions in the Middle East like today, but also weighing against debt fears, inflation fears, etc.”Israel’s attack on Iran followed repeated warnings from Netanyahu about striking the OPEC producer and crippling its atomic program. The US and Iran were meant to meet for their next round of nuclear talks on Sunday in Oman, but it’s unclear if those negotiations will happen now.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5005,976.97 -68.29 (-1.13%)Dow 3042,197.79 -769.83 (-1.79%)Nasdaq19,406.83 -255.66 (-1.30%)Russell 20002,100.51 -39.59 (-1.85%)VIX20.82 +2.80 (+15.54%)Gold3,452.60 +50.20 (+1.48%)PortfolioSign in to access your portfolioSign inTop gainersRUN Sunrun Inc. 10.00 +1.53 (+18.06%)SSL Sasol Limited 5.45 +0.60 (+12.37%)DAR Darling Ingredients Inc. 36.01 +3.02 (+9.15%)BHC Bausch Health Companies Inc. 5.98 +0.47 (+8.53%)ORCL Oracle Corporation 215.22 +15.36 (+7.69%)Top losersVEON VEON Ltd. 38.27 -8.73 (-18.59%)ACHR Archer Aviation Inc. 9.99 -1.74 (-14.83%)DAVE Dave Inc. 208.24 -30.01 (-12.60%)APLD Applied Digital Corporation 11.18 -1.33 (-10.63%)NEGG Newegg Commerce, Inc. 9.36 -1.06 (-10.17%)Most activeNVDA NVIDIA Corporation 141.97 -3.03 (-2.09%)TSLA Tesla, Inc. 325.31 +6.20 (+1.94%)ACHR Archer Aviation Inc. 9.99 -1.74 (-14.83%)LCID Lucid Group, Inc. 2.1000 -0.0600 (-2.78%)PLTR Palantir Technologies Inc. 137.40 +2.21 (+1.63%)Earnings eventsTrending tickersBTC-USD Bitcoin USD 105,710.33 -75.63 (-0.07%)XRP-USD XRP USD 2.15 +0.01 (+0.38%)ETH-USD Ethereum USD 2,539.55 -21.53 (-0.84%)CL=F Crude Oil Jul 25 73.18 +5.14 (+7.55%)BTC-CAD Bitcoin CAD 143,665.62 -102.78 (-0.07%)Top economic events