Gold Rises to Five-Month High on Safe-Haven Demand As U.S. Strikes Syria

Gold rose more than 1 percent on Friday to a 5-month high as investors sought safe-haven assets after the United States launched cruise missiles on a Syrian air base, potentially escalating tensions with Syrian allies Russia and Iran.
U.S. President Donald Trump unleashed military strikes against the air base in response to a deadly chemical attack on a rebel-held area, a U.S. official said on Thursday.
Trump took the toughest direct U.S. action yet in Syria’s six-year-old civil war, raising the risk of confrontation with Russia and Iran, Assad’s two main military backers.
Spot gold rose 1 percent to $1,264.30 per ounce by 0340 GMT. It earlier climbed as much as 1.4 percent to $1,269.28, its highest since Nov. 10, and was on track for a fourth straight week of gains. U.S. gold futures also rose over 1 percent to $1,266.20.
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