Gold climbs as US-Israel strikes on Iran spark safe-haven demand

Gold prices rose on Monday after the US and Israel launched major strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, escalating geopolitical tensions and deepening global economic uncertainty. Spot gold was up 1% at $5,329.39 an ounce, as of 0201 GMT, after hitting its highest point in more than four weeks. Earlier in the session, bullion prices climbed as much as 2%. US gold futures rose 1.8% to $5,342.80 per ounce. Israel launched a new wave of strikes on Tehran on Sunday and Iran responded with more missile barrages, a day after the killing of Khamenei pitched the Middle East and the global economy into deepening uncertainty.