GOLD CONTINUES TO SOAR AMID ISRAELI-IRANIAN MILITARY STRIKES

Sat 14 June 2025:

The price of gold rose sharply on Friday amid the military confrontation between Israel and Iran.

Israel began its military operation early Friday, targeting Iran’s nuclear and military facilities and killing its top military commanders and scientists. The attacks continued until Friday night, with cities such as Tehran, Natanz, Tabriz, and Isfahan hit.

Iran then launched a retaliatory attack, Operation True Promise III, on Friday night.

The price of one ounce of gold rose 1.4%, to currently stand at $3,434 as of 1955GMT.

The Israeli currency, the shekel, lost around 2% against the US dollar on Friday, while the Israeli benchmark stock index, TA125, dropped by around 1.8%.

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The attacks by Israel on Iran’s nuclear facilities have resulted in a broad ‘risk-off’ tone throughout markets, supporting Gold’s rise.

Recent news indicates that the United States and Israel have warned that attacks are likely to persist, leading to a surge in gold prices, which are currently trading at $3,434.

In a televised interview with ABC News, President Donald Trump said, “We warned them and they ignored it. They’ve been hit harder than ever before, and there’s plenty more where that came from.”

In a post on social media, President Trump stated, “I gave Iran chance after chance to make a deal. I told them, in the strongest of words, to ‘just do it,’ but no matter how hard they tried, no matter how close they got, they just couldn’t get it done,”.

Governments around the world, from Riyadh to Beijing, have condemned the strikes. China’s Foreign Ministry spokesman Lin Jian called on all sides “to push for regional peace, stability, and to steer clear of further escalation.”

The airstrikes on Iran have reportedly killed senior IRGC figures like Major General Mohammad Bagheri and IRGC commander Hossein Salami, as well as several nuclear scientists.

With geopolitical tensions on the rise, Gold’s appeal remains strong.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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