Gold prices rise after Iran attacks Israel; US urges to avoid escalation in Middle East

Gold prices rise after Iran attacks Israel

As of the opening session today (April 15), the price of gold futures for June delivery on the Comex exchange in New York increased by 25.3 USD, equivalent to 1.08%, to 2,385.25 USD/ounce. Meanwhile, the price of silver futures for May delivery increased by 1.48% to 28.385 USD/ounce.

Iranian military launches UAV. Photo: AP

Goldman Sachs raised its year-end gold price forecast to $2,700 an ounce from $2,300, saying the gold market was not driven by conventional macro factors.

In addition, according to records, crude oil prices have fallen again. Brent oil is currently down 0.07% to 90.39 USD/barrel. WTI oil is down 0.25% to 85.4 USD/barrel.

US calls for avoiding escalation in the Middle East

US Secretary of State Antony Blinken, in a conversation with the foreign ministers of Saudi Arabia, Türkiye, Egypt and Jordan, stressed the need to avoid further escalation in the Middle East following Iran's attack on Israel.

“ Secretary Blinken and the foreign ministers of Saudi Arabia, Turkey, Egypt and Jordan emphasized the importance of preventing escalation and the importance of coordinating diplomatic efforts in response to the situation in the Middle East, ” the US State Department said in a statement.

According to John Kirby, coordinator for strategic communications at the White House National Security Council, “The United States does not want to get into a war with Iran.”

“ As President Biden has said repeatedly, we are not seeking a broader war in the region. We are not seeking a war with Iran ,” Kirby told reporters when asked if the United States would support a direct Israeli response against targets inside Iran.

According to US media, President Biden persuaded Israel to stop military retaliation against Iran, because Israel had intercepted 99% of UAVs and missiles.

On the evening of April 13, Iran launched a series of explosive-laden UAVs and fired missiles at Israel in retaliation for the attack that destroyed the consular building at the Iranian Embassy in Syria on April 1, killing seven members of the Iranian Revolutionary Guard Corps.

According to Israeli military spokesman Rear Admiral Daniel Hagari, Iran launched a total of more than 300 UAVs and missiles towards Israel on the evening of April 13 and 99% of these weapons were shot down.

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