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

Gold spiked after Israel conducted airstrikes targeting Iran’s nuclear sites and military leadership, raising fears that hostilities between the two nations may spiral into a wider regional conflict.

Bullion 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.