Because of the tension in the Middle East .. gold rose to its highest level in 7 years

Gold rose to its highest level in seven years on Monday, as investors sought the metal, which is a safe haven due to escalating tensions between the United States and Iran, while palladium exceeded the level of two thousand dollars to record a record peak, according to Reuters.

And rose gold in immediate trading 1.5 percent to $ 1574.14 an ounce (ounce).

Earlier in the session, it rose 1.8 percent to $ 1579.72, the highest level since April 10, 2013.

Gold in US futures rose 1.6 percent to $ 1577.20.

This record rise coincided with President Donald Trump’s threat to impose sanctions on Iraq, after the Iraqi parliament demanded the departure of US and foreign forces from the country amid an angry response to the killing of Quds Force commander Qassem Soleimani, which raised fears of a wider conflict.

Adding to the blurring is Iran’s announcement that it will further reduce its obligations in the nuclear agreement signed with the six major powers in 2015.

The palladium spot price hit an all-time high of $ 2020.18 an ounce and rose in the most recent trading by 1.4 percent to $ 2015.24.

Silver advanced 1.9 percent to $ 18.38 an ounce after touching the highest level in more than three months at $ 18.50, while palladium advanced 0.8 percent to $ 987.82.