Gold price rises after Iran attacks on two bases in Iraq housing US troops

Spot gold is trading $1,606 as of 7:43 p.m. ET, jumping nearly $30 since late this afternoon. The last time gold traded this high was in 2012.

Soleimani and the acting commander of the Iraqi Popular Mobilization Units (PMU) - known as the Hash al-Shaabi - Abu Mahdi Al-Mohandes were targeted and assassinated by the US forces while they were separately leaving Baghdad airport in two cars on January 3.

In retaliation, Iran fired ballistic missiles Wednesday at the U.S. military bases in Iraq, killing 80 American soldiers. (ILKHA)