Gold and oil prices jumped in early trade on Monday following heightened geopolitical tensions in the Middle East.
Spot gold opened at around $2,640 per oz. on Monday and was trading at $2,661 as of 2:15 p.m. EST, up nearly 0.8 percent. Brent crude oil futures, which opened at $71.22 per barrel, were trading at $72.23, an increase of over 1.4 percent. Oil prices had dropped for three consecutive days until the trend was reversed on Sunday. Over the weekend, a group of rebels in Syria seized the capital, complicating the security situation in the Middle East, which is already fragile amid the Israel-Gaza conflict.
