Gold Reaches 5-mth Peak After U.S. launches Missile Strike on Syria

On Friday, the Gold prices reached around five-month peak after the U.S. military initiated cruise missile strikes against a Syrian air base managed by President Bashar al-Assad’s forces.

Spot gold prices increased 1.3% to $1,267.43 per ounce by 0225 GMT, after reaching a peak of $1,269.28, its maximum since November 10.

On Thursday, U.S. President Donald Trump addressed the nation, mentioning that he ordered a targeted military strike against an airfield in Syria that was used to launch a deadly chemical attack earlier this week.

US officials said, US warships in the Mediterranean Sea launched 59 Tomahawk cruise missiles at an airbase of the Syrian government, controlled by President Bashar al-Assad, where the warplanes were based that executed the chemical attacks.

The airstrikes took place at 8:45 p.m. ET (3:40 a.m. local time).