Gold Hits Fresh High as Israel Prepares for Strike by Iran or Proxies

Gold surged to a fresh record as simmering Middle East tensions intensified buying momentum.

Bullion broke the $2,400-an-ounce mark for the first time on Friday morning, climbing as much as 2.4% to $2,429.82. The US and its allies believe a major missile attack by Iran or its proxies is imminent in retaliation for an Israeli strike on its embassy compound in Syria.