Gold Rises as Middle East War Drives Demand for Safer Assets

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Gold:Trays of gold bars at the Polish mint in Warsaw, Poland.Gold advanced to a one-month high, approaching the record set in February, as the escalating war in the Middle East rattled markets and drove investors to haven assets.Spot gold climbed as much as 2.7% to top $5,400 an ounce, before paring most of its gains as US markets opened. The conflict spread over the weekend after the US and Israel attacked Iran — killing the Islamic Republic’s supreme leader, Ayatollah Ali Khamenei — and Tehran responded with waves of missiles at targets in multiple countries. Silver and palladium fell.