(Kitco News) – Gold prices are solidly up and hit a five-week high in early U.S. trading Friday, on strong safe-haven demand following the overnight Israeli attacks on Iran that are being called major. Silver prices are modestly up. August gold was last up $41.90 at $3,444.30. July silver prices were last up $0.095 at $36.39.
Risk aversion in highly elevated Friday amid the most severe military escalation between Israel and Iran in decades. Targeted Israeli airstrikes overnight killed several of Iran’s top generals and nuclear officials, paralyzing Tehran’s command structure and leaving the regime reeling. Israel said it is preparing for further military action.
Gold prices rose to a five-week high and crude oil prices surged after Israel launched a wave of military strikes against Iranian nuclear and missile sites, raising fears of a broader Middle East conflict that could severely disrupt global energy supplies.
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