Gold surges as Middle East tensions spur safe-haven rush
Gold prices rose above $2,400 per ounce to an all-time high on Friday, heading for their fourth week of gains, as growing tensions in the Middle East prompted investors to seek refuge in the safe-haven assets. Spot gold eased 0.8% to $2,353.35 per ounce as of 1:40 p.m. ET (1740 GMT), taking a breather after hitting a record high of $2,419.79. Prices were up around 1% for the week.U.S. gold futures settled 0.1% higher at $2,374.1. Taking cues from gold's upward momentum, platinum tested the key $1,000 per ounce level to its highest level in nearly four months. "What's really telling about the strength of gold is the U.S. dollar index and Treasury yields are climbing, yet gold continues to rally strongly - that's very indicative of strong safe-haven demand," said Jim Wyckoff, senior analys...