Israel attack on Iran sparks a gold rush for investors

INVESTORS were flocking to gold yesterday after Israel's attack on Iran sparked a demand for the safe haven asset.

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The rush sent gold prices up 1% to their highest level in nearly two months at $3,441.90

The bullion pulled on track for a weekly gain as the Middle Eastern conflict ramped up.

Shares in gold miners Fresnillo and Endeavour each climbed 1% in early trading.

Ricardo Evangelista, senior analyst at ActivTrades, said: “The heightened risk environment triggered a flight to safety across financial markets, boosting demand for haven assets such as gold.”