Strategist: Escalating Middle East conflict could lead to record highs for gold.

Ole Hansen, head of commodities strategy at Saxo Bank, said there is no doubt that the US-Israeli military action against Iran is a worrying escalation that will prompt investors to flock to the precious metals and energy sectors. The extent of the impact is uncertain, but given last week's momentum, I wouldn't be surprised if gold hits a new all-time high. (Jinshi)