Gold prices jumped 1% to a four-month high on Friday as tensions flared in the Middle East after a senior Iranian military official was killed in a US air strike, sparking safe-haven bids.
Iranian Major-General Qassem Soleimani, head of the elite Quds Force, and top Iraqi militia commander Abu Mahdi al-Muhandis were killed in the air strike on their convoy at Baghdad airport.
Spot gold hit its highest since Sept. 5 at $1,543.66, and was up 0.8% at $1,540.80 per in the Asian close on Friday. US gold futures gained about 1% to $1,543.30 per ounce.
For the week, spot gold has...