Gold prices moved towards record highs on Monday as the escalating conflict between Israel and Iran prompted investors to turn to safe-haven assets, Internet reported. Gold rose 0.6 per cent in early Asian trading Monday to above $3450 an ounce, about $50 shy of its all-time high set in April. The sudden rise in geopolitical risk has added more momentum to the rally, which has been driven largely by the threat to global economic growth posed by Trump's aggressive tariff agenda. Gold has risen by more than 30% in 2025, and central banks seeking to diversify away from the dollar is another important driving force. (Jin Shi)