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Gold up on safe-haven bids as stocks, dollar slide on Mid-East tensions

Gold jumped nearly 1% on Monday, bolstered by safe-haven bids following rising geopolitical tensions in the Middle East that knocked equities and the dollar lower. Saudi Arabia cut ties with Iran on Sunday, responding to the storming of its embassy in Tehran in an escalating row between the rival Middle East powers over Riyadh’s execution of a Shi’ite Muslim cleric.