WASHINGTON (dpa-AFX) - Gold prices climbed higher on Friday, lifting the front month gold futures contract higher for a fifth straight week.
Gold continued to attract safe-haven buying as geopolitical tensions escalated in the aftermath of Israel's retaliatory strikes against Iran.
A largely subdued dollar contributed as well to the yellow metal's upside.
Gold futures for April ended higher by $16.10 or nearly 0.7% at $2,398.40 an ounce. Gold futures gained $42.20 or about 1.8% in the week.
Silver futures for April ended up by $0.479 or about 1.7% at $28.808 an ounce. For the week, silver futures gained nearly 2%.
Copper prices climbed to a 2-year high. Copper futures for April rose to $4.4915, gaining $0.550 or nearly 1.3%.
According to reports, Israeli missiles targeted a site in Isfahan province in Iran, raising fears of a widening of the conflict.
However, Iran's state-run media downplayed the attacks, saying the explosions heard in Isfahan were the result of the activation of Iran's air defense systems.
Also, the nuclear facilities in Iran's central Isfahan province are completely safe, the semi-official news agency Tasnim reported.
The International Atomic Energy Agency (IAEA) also confirmed that there has been no damage to Iranian nuclear sites as a result of the Israeli strike confirmed by U.S. officials.
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