Gold price near record after Iran strikes; what to watch when markets reopen
Spot gold closed Friday up 1.7% at $5,277 an ounce, just below January’s record, as U.S. and Israeli strikes on Iran and surging oil prices spurred haven demand. Physical bullion flows through Dubai are expected to slow due to flight cancellations. Brent crude traded near $80 a barrel in OTC weekend deals, up about 10%. Traders anticipate a volatile gold open when markets resume.