Gold rises to five-month high on safe-haven demand as US strikes Syria
Bengaluru — Gold rose more than 1% on Friday to a 5-month high, as investors sought safe-haven assets after the US launched cruise missiles on a Syrian air base, potentially escalating tensions with Syrian allies Russia and Iran. US President Donald Trump unleashed military strikes against the air base in response to a deadly chemical attack on a rebel-held area, a US official said on Thursday. Trump took the toughest direct US action yet in Syria’s six-year-old civil war, raising the risk of confrontation with Russia and Iran, Assad’s two main military backers. Spot gold rose 1% to $1,264.30 per ounce by 3.40am GMT. It earlier climbed as much as 1.4% to $1,269.28, its highest since November 10, and was on track for a fourth straight week of gains. US gold futures also rose over 1% to $1,266.20. "Clearly this raises the stakes and we expect to see gold prices continuing to push higher in the short-term, at least until there is some clarity around whether this is a one-off or develop...
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