Gold soars, danger grows: Israel-Iran tension hits markets too

Israel targeted numerous buildings in the Iranian capital of Tehran with strikes launched at midnight.

While most of the struck structures were located in residential areas, Israeli Defense Minister Yisrael Katz announced that they had carried out an attack on Iran, stating, "Following Israel's preemptive strike on Iran, missile and drone attacks against Israel and the civilian population are expected in the near future."

GOLD AT HISTORIC HIGHS

Markets, which were already on edge after the U.S. evacuated embassy personnel in the Middle East, experienced major turmoil following the news of the attack. Spot gold exceeded 3,430 dollars after the attack, while gram gold surpassed 4,380 liras, reaching the highest level in history.

'CLASHES COULD LAST FOR WEEKS'

While sources in the region reported that the attacks were not a one-night event and were expected to continue for days, Iranian state television broadcast footage showing Israel hitting civilian residential areas in Tehran. Following Israel's attack threats, at least 4 loud explosions were heard from the center of Tehran, and Iranian state television reported that Israel had carried out attacks on certain areas in Tehran.

Israel Army Radio, in an announcement it released, said, "The second Israeli attack has begun. The clashes could last for weeks."