Gold Rises as Iran Pledges Retaliation for US Military Strikes

Gold rose as Israel ratcheted up attacks on Iran on Monday while Tehran vowed to retaliate against US military strikes of nuclear facilities in the Islamic Republic.

Bullion rose as much as 0.8% to nearly $3,400 an ounce Monday, as Israel struck more targets within Iran and Tehran said it will respond “proportionately and decisively” to US attacks on the weekend. The Islamic Republic fired several missiles of its own at Israel, suggesting no immediate plans to pare back the hostilities that are fueling fears of a wider war in the Middle East.