Middle East Conflict Stokes Gold Demand, Prices Soar
As early trading got underway on Wednesday, gold prices climbed for their fifth day in a row as the conflict in the Middle East stoked demand for this safe-haven asset. Energy markets were also thrown out of whack as strikes against Iran upended trade routes, especially the Strait of Hormuz. Gold climbed to $5,380 per ounce, reflecting a 1.1% gain to build on the 3% rally that the precious metal had recorded over the preceding five days of trading. President Trump vowed that U.S. action in Iran would continue for as long as was necessary, and Israel revealed it was…