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Gold hits $1,400 for the first time since September 2013

Gold prices surged above $1,400 per ounce to levels last seen in September 2013 as geopolitical tensions increased following Iran’s capture of an American drone.

United States President Donald Trump had approved strikes on the Middle Eastern country after the incident but withdrew his decision later on.

Meanwhile, Washington is yet to find common ground with Beijing on trade as trade negotiations are due to continue following a push from Trump and his Chinese counterpart Xi Jinping.

Gold surged 1.18% to go for $1,404.76 per ounce at 12:03 am GMT after hitting a daily high of $1,411.86 per ounce.

Other precious metals followed the sentiment as silver prices decreased by 0.43% to %15.48 at 12:05 am GMT while platinum and palladium rose 0.53% and 0.45%, respectively, at the same time.