Gold Soars, US Urges Embassy Staff in Israel to "Leave Now"|
Gold and silver prices rose sharply after media reports indicated that US Ambassador to Israel, Mike Huckabee, advised non-essential embassy staff to leave Israel immediately, amid heightened security concerns in the region.
According to the report, the advisory was delivered via an internal email and was said to have been issued "out of an abundance of caution" following a series of intensive meetings and communications, including with the US State Department. Huckabee also encouraged anyone planning to leave to book flights immediately, as demand for seats was expected to surge following the embassy's move.
Consequently, the market has again increased its defensive stance. FXStreet reported that gold was trading around $5,220 (up 0.75% daily) and silver was up 4.3% to $92.03 shortly after the headlines circulated.
This "authorized departure" move comes amid escalating US-Iran tensions following nuclear talks that have yet to produce a final agreement, leading the market to believe that geopolitical risks could easily trigger a short-term surge in safe-haven demand.
Source: FXstreet.com
