Oil futures saw a reversal in their declining trend, while gold prices surged on Wednesday following an overnight escalation of hostilities in the Middle East. The spike in prices came after reports of the alleged killing of Hamas' political leader in Tehran, Iran.
The incident occurred when Ismail Haniyeh, Hamas' political leader, was reportedly killed in an air strike in the early hours of Wednesday. Both Hamas and Iran have accused Israel of being behind the attack, leading to heightened tensions in the region.
