Gold prices end 1% higher amid increased safe-haven demand

Gold alloys

Gold prices extended their gains at settlement today, Oct. 1, amid increased demand for safe-haven assets after Israel announced Iran's missile attach at it, on the heels of a pullback in US bond yields.

Bullion for December delivery jumped by 1.15%, or $30.90, to $2,690.30 per ounce, with the yellow metal rising for the first time in three sessions.

Likewise, the US dollar index, which gauges the greenback's strength against a basket of six currencies, climbed by 0.45% to 101.23 points at 09:49 pm Makkah time.

In a security statement on its website today, the US embassy in Jerusalem directed all government employees and their family members to remain in their places until further notice and noted the continued need to exercise caution.

According to Israeli Army Radio, the number of Iranian missiles reached about 200, and explosions were heard in Jerusalem and Tel Aviv as defense systems intercepted the attack. Israeli residents were asked to remain “near a shelter until further notice.”