Gold prices headed towards a record high on Monday as the escalating conflict between Israel and Iran prompted investors to turn to safe havens. Gold prices rose as much as 0.6% to above $3,450 an ounce in early Asian trading on Monday, about $50 shy of the all-time high set in April. The sudden rise in geopolitical risk added more momentum to the rally, which has been driven largely by the threat to global economic growth from Trump's aggressive tariff agenda. Gold is up more than 30% in 2025, with central banks seeking to diversify away from the dollar being another important driver. (Golden Ten)