After US officials claimed that an Israeli missile had struck Iran, the price of gold and oil surged.
The global benchmark for crude oil, Brent, surged to more than $90 a barrel following news of an Israeli attack. However, it later declined as Iran attempted to minimize its importance.
Before falling below $2,400 an ounce, gold was on the verge of setting a record for a short while.
There are worries that the Middle East’s escalating war may cut off oil supply.
Investors were keenly observing Israel’s response to Iran’s direct strike over the weekend with drones and missiles.
At first, oil prices increased by as much as 3.5%. However, Iranian state media reported that there was “no damage” in the province of Isfahan, where there had been no damage.
