SINGAPORE: Gold and silver rallied after a strike against Saudi Arabian oil facilities hurt supplies and prompted a record surge in oil prices, with investors seeking haven assets at the start of a week that’ll also see critical policy decisions from central banks including the Federal Reserve.
Gold jumped more than 1%, trading above $1,500 an ounce, while its cheaper sister metal climbed more than 2% as investors gauged the ramifications from the assault against the world’s biggest crude-processing facility in Abqaiq and the kingdom’s second-biggest oil field in Khurais. The U.S. has blamed Iran for the disruption, a charge that’s been rejected by Tehran.
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