Precious Metals Preview: Escalating Middle East conflict boost safe-haven assets; Gold, silver hovers at 1-month high

COMEX gold and silver futures climbed on Monday as investors rushed to safe haven assets amid ongoing Middle East tensions. War escalated over the weekend as US and Israel began major combat operations in Iran. Iran has responded by firing drones and missiles into Israel and American targets, including the United Arab Emirates, Bahrain, Qatar, Kuwait, and Jordan. Reportedly, Iranian Supreme Leader Ayatollah Ali Khamenei was killed during the military strikes. However, dollar strength is restricting gains in the yellow metal which is currently quoting at $5368.20 an ounce after having surged above $5400 mark, a one-month high. Silver is also trading higher at around $94.50 mark.

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