US-Israel-Iran War LIVE: Gold Rises On Safe-Haven Demand

Middle East Conflict News LIVE: The Iranian Tasnim news agency reported that several explosions were heard in Tehran within the past hour, signalling a further escalation in the rapidly widening conflict across the Middle East. The crisis intensified after the United States and Israel launched Operation Epic Fury on February 28, killing Iran’s Supreme Leader Ayatollah Ali Khamenei along with senior officials including IRGC commander Mohammad Pakpour and adviser Ali Shamkhani. In response, Iran declared 40 days of national mourning and moved to close the Strait of Hormuz, a critical global oil shipping route, triggering protests, regional airspace shutdowns and heightened geopolitical tensions. The fallout is rippling across global markets and governments. Gold prices climbed as investors flocked to safe-haven assets amid the deepening crisis, with spot gold rising 0.8% to $5,177.26 per ounce and US gold futures gaining 1%. The move was supported by a softer US dollar, which eased from a three-month high. South Korea’s President Lee Jae Myung ordered the activation of a $68bn market stabilisation fund to counter volatility linked to the conflict. Meanwhile, European Union members have begun sending military aid to bolster defences in Cyprus, where authorities temporarily shut the island’s international airport after a suspected drone approached its airspace. The Pentagon also identified two additional soldiers killed in the conflict. Major Jeffrey O’Brien of Iowa and Chief Warrant Officer 3 Robert M Marzan of California were among reservists killed in a drone attack on a US military facility in Port Shuaiba, Kuwait, highlighting the expanding risks facing American forces in the region.