Oil and gold prices jump on fears of US military action against Iran

Oil prices surged above $70 a barrel, reaching a five- to six-month high, and gold hit a new record. The sharp rise in these key commodities was driven by market worries that the United States could launch a military attack on Iran.

Reports cited rising tensions and specific threats from Trump as the catalyst for the price jumps. The concern over a potential conflict in the Middle East led investors to buy assets like oil and gold, which are seen as safe havens during times of geopolitical instability.