Gold prices surge amid rising tensions in the Middle East

CommSec’s Tom Piotrowski says gold prices have “surged overnight” following rising tensions in the Middle East. “The geopolitical issue in the Middle East is so much front of mind for investors,” Mr Piotrowski told Sky News Australia. “That saw gold prices surge overnight, once again, not hitting record highs but up 1.6 per cent. “Oil prices were actually lower for a decent part of the session, down by as much as two per cent, but they have gravitated back towards that $86 mark in terms of West Texas Intermediate. “That’s important because, yesterday, mining and energy stocks were able to hold the market up.” Presented by CommSec.