Gold continues to soar amid Israeli-Iranian military strikes

The price of gold rose sharply on Friday amid the military confrontation between Israel and Iran.

Israel began its military operation early Friday, targeting Iran's nuclear and military facilities and killing its top military commanders and scientists. The attacks continued until Friday night, with cities such as Tehran, Natanz, Tabriz, and Isfahan hit.

Iran then launched a retaliatory attack, Operation True Promise III, on Friday night.

The price of one ounce of gold rose 1.4%, to currently stand at $3,434 as of 1955GMT.

The Israeli currency, the shekel, lost around 2% against the US dollar on Friday, while the Israeli benchmark stock index, TA125, dropped by around 1.8%.