Gold settles higher as Middle East tensions persist

23/06/2025 Argaam
Gold bars

Gold bars

Gold prices rose at the close of trading on Monday, as investors monitored the fallout from a US strike on Iranian nuclear sites a day earlier and Tehran’s threats of escalation.

 

August gold futures climbed 0.27%, or $9.3, to settle at $3,395 per ounce.

 

The gains were driven by increased demand for safe-haven assets amid ongoing military clashes between Israel and Iran, and the US intervention in the conflict with airstrikes on Iranian nuclear facilities over the weekend.

 

In a new escalation, Iran targeted the US Al Udeid Air Base in the Qatari capital, Doha, backing off its earlier threat to close the Strait of Hormuz, a key transit point for about one-fifth of the world’s oil supply.

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