The price of gold jumped to its highest level for the first time in seven years (since 2013).
Gold now costs $1588.13 per ounce (28 grams). The price of palladium also increased – it reached a record $2,027.91 per ounce.
The Bloomberg, citing Goldman analysts, writes that the price of gold can rise even more. Experts predict an increase in its value up to $1,600 per ounce, if the tension between Washington and Tehran intensifies.
Gold may prove a better bet than oil amid rising tensions, according to analysts.
Earlier it became known that the price of Brent oil exceeded the mark of $70 per barrel for the first time since May. During trading in London, the price reached $70.16, which is 2.08 percent higher than the previous day.
The price increase occurred due to conflict between the U.S. and Tehran, aggravated after the killing of the commander of the special forces of the Islamic Revolutionary Guards Corps (IRGC) Qassem Soleimani in Baghdad during a missile strike. The order for his murder was given personally by US President Donald Trump .