Gold surges over 1% amid Middle East woes

The prices of precious metals rose on Tuesday with gold soaring more than 1% and mostly erasing yesterday’s losses, as the growing chaos in the Middle East seemingly pushed investors toward safe havens.

A day earlier, Israel announced it would be conducting “limited” ground operations in Lebanon, after killing Hezbollah chief Hassan Nasrallah. Israel’s previous strikes on Beirut triggered angry reactions across the region, with media reports saying that Iran could launch an attack against Israel soon.

Gold jumped 1.15% at 11:27 am ET, going for $2,664.59. At the same time, silver advanced by 1.32%, selling at $31.58. At 11:28 am ET, platinum gained 1.13%, going for $994.30, while palladium lost 0.53%, selling at $984.03.