The price of gold and other precious metals rose sharply on Monday due to the escalating conflict in the Middle East.
By 9:57 a.m. ET, April gold futures on the Comex exchange rose about 3.3% to $5,418 per ounce.
Silver futures rose 3.3% to $96.38 per ounce, and platinum futures rose 2% to $2,422 per ounce.
As reported, on Saturday, the US and Israel launched military action against Iran. They carried out more than a thousand missile strikes on Iranian cities, killing Iran’s supreme leader Ayatollah Ali Khamenei.
Iran launched retaliatory strikes against Israel and a number of Persian Gulf countries. In particular, residential areas of the capital of Bahrain were affected, and damage to a number of hotels and the airport in Dubai was reported.
Meanwhile, the price of aluminum on the London Metal Exchange jumped nearly 3% on Monday to $3,231 per ton. It is noted that Iran’s neighbors, including Saudi Arabia, the UAE, and Bahrain, are major aluminum producers. According to AZ China, the Middle East accounts for about 9% of global production of this metal.
Earlier, the Experts Club analytical center presented an analysis of the world’s leading gold-producing countries in its video on YouTube channel — https://youtube.com/shorts/DWbzJ1e2tJc?si=BywddHO-JFWFqUFA
EXPERTS CLUB, GOLD, IRAN, ISRAEL, USA
