Gold extends gains, Bitcoin falls amid escalating ME tensions
Gold prices climbed while Bitcoin dropped on Friday, as geopolitical tensions intensified in the Middle East following Israeli airstrikes on Iran.
Gold futures for August delivery rose by 1.4%, or $47.50, to $3,449.90 as of 7:52 am KSA time.
Spot gold also gained 1.10%, or $37.29, to reach $3,423.21 per ounce. Silver futures for July delivery increased slightly by 0.18% to $36.36, while spot platinum fell by 1.29% to $1,281.90.
Meanwhile, the US Dollar Index added 0.41% to 98.33 points.
On the other hand, Bitcoin (BTC) dropped 2.18% to trade at $104,483. Ethereum (ETH) fell 7.59% to $2,512.56, and Ripple (XRP) dipped 2.79% to $2.1248.
This followed large-scale Israeli airstrikes on Iran at dawn today, which the Israeli government said targeted Tehran's nuclear program and military capabilities, amid growing concerns over a potential Iranian retaliation that could lead to further escalation.
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