Gold hits highest since 2013
Oil and gold prices continued surging on Monday as escalating tensions in the Middle East fanned worries about disruption to global oil supplies, sending investors scurrying to safer investments.
Gold has entered 2020 with strong momentum.
Oil prices had jumped more than 4 percent on Friday after the United States killed Iran’s Quds Force leader Qassem Soleimani, in an air attack near Baghdad airport.
Meanwhile, the spot gold price rose to its highest in almost seven years as concerns over geopolitical tensions in the Middle East stoked demand for precious metals, which are seen as safer investments during times of financial uncertainty.
Spot gold surged 1.5 percent to $1,579.55 per ounce in jittery trade and reached its highest since April 2013.