Gold climbs 1% as U.S.-Israeli strikes on Iran fuel safe‑haven demand

Gold prices surged 1% on Wednesday, driven by escalating U.S.-Israeli air strikes against Iran that heightened geopolitical uncertainty and boosted safe-haven demand. This rebound followed a dip to a one-week low, influenced by a stronger dollar and reduced rate-cut expectations amid inflation fears. Global oil and gas prices also soared due to Middle East energy supply disruptions.