Gold prices saw an increase while Asian stocks experienced a decline on Monday, driven by escalating geopolitical tensions in the Middle East following Iran's recent attack on Israel. This event led to a surge in demand for safe-haven assets, with gold prices rising as a result.
Oil prices had risen on Friday in anticipation of potential retaliatory actions from Iran, reaching their highest levels since October. However, they slightly retreated during Asian trading hours on Monday as the geopolitical risk premium decreased, with Israeli military officials reporting only minor damage from the attack.
