Israel launches missile attacks on Iran, causing soaring gold and oil prices
Recently, Israel launched airstrikes on Iran's second largest city, Isfahan, in retaliation for Iran's first strike on Israel's mainland. Subsequently, the prices of the two major international crude oil benchmark futures both surged by over 3%, and some of the gains were subsequently recouped. On the other hand, spot gold prices rose to a historic high of $2411.09 per ounce on the same day. With the escalation of conflicts in the Middle East, the crude oil market is facing a "major risk" of oil export disruptions from Gulf countries
