02:00 PM EDT, 06/13/2025 (MT Newswires) -- (Updates prices.)

Gold traded at a record high mid-afternoon on Friday as safe-haven buying surges after Israel launched overnight attacks on Iranian nuclear facilities and military leadership.

Gold for August delivery was last seen up US$48.80 to US$3,451.20, topping the prior record close of US$3,425.30 set on April 21.

Israel launched overnight attacks on Iranian nuclear facilities and the country's military leadership, killing the head of the Iran's Islamic Revolutionary Guard Corps, Major General Hossein Salami, as well as the army's chief of staff, according to the Washington Post.

Iran retaliated by launching drones and missiles toward Israel and called the attacks a declaration of war by Israel. No damage from the Iranian strikes has been reported. Still, there are worries the conflict will spread, threatening oil supplies from the Persian Gulf region and a wider economic fall out that could further support the price of the precious metal.

"Gold rose together with the dollar following the Israeli attack in a classic safe-haven move ... Whether the attack was the spark that was needed to reignite gold and drive a fresh push towards and above USD 3,500, remains to be seen. However, together with central bank demand, fiscal debt concerns, and softening US economic data pointing to rate cuts, it seems to be the path of least resistance," Saxo Bank noted.

The dollar also rose, with the ICE dollar index last seen up 0.27 points to 98.19 after falling to the lowest since early 2022 on Wednesday. Treasury yields rose, with the U.S. two-year note last seen paying 3.983%, up 6.5 basis point, while the yield on the 10-year note was up 8.1 points to 4.449%.