Gold prices climb as investors flock to safe-haven amid Middle East unrest

Gold prices reached a one-week high on Monday due to escalating conflict between Israel and Hamas, causing political unrest in the Middle East and increasing demand for safe-haven assets. Spot gold rose nearly 1% to $1,848.15 per ounce, its highest level since September 29. The S&P 500 and Nasdaq indices declined in response, while crude oil prices surged over 3%. Traders are pricing in a 28% chance of another rate hike by the Federal Reserve later this year