Gold and silver rallied after a strike against Saudi Arabian oil facilities raised the possibility of retaliatory US military action in the Middle East, with investors seeking haven assets at the start of a week that’ll also see critical policy decisions from central banks including the Federal Reserve.
Bullion jumped more than 1.5% as investors gauged the ramifications from the assault against the world’s biggest crude-processing facility in Abqaiq and kingdom’s second-biggest oil field in Khurais. Secretary of State Michael Pompeo blamed Iran for the disruption, a charge that was rejected by Tehran.