Gold climbed to $1,064.80 (+0.43%) amid demand for safe-haven assets after Saudi Arabia cut diplomatic relations with Iran and gave Iranian diplomats 48 hours to leave the country in response to an attack of its embassy in Tehran. Recently Saudi Arabia executed Iranian citizens, who were accused of attacking public places in Saudi Arabia.

Investors traditionally turn to gold at times of crisis and geopolitical tensions, but such gains are normally short-lived.