CONFLICT ENTERS FOURTH DAY: Israel and Iran have begun a new round of attacks, as the conflict between the two heavily armed rivals enters its fourth day.

Iran and Israel have launched a fresh wave of attacks on each other in a development that continues to raise fears of the wider region being plunged into a destabilising conflict. Iranian missiles struck Tel Aviv and the port city of Haifa shortly before dawn on Monday,

In many ways, it’s conceivable that Israel's Operation Rising Lion will alter the military balance of power in the Middle East more so than the 1991 Persian Gulf War.

It’s too soon to tell how exactly the current wave of Israeli strikes could transform the region, but one thing is clear: Israel’s actions have fundamentally reshaped the security landscape of the Middle East.

Gold rose to a near two-month high on Monday, as intensified clashes between Israel and Iran over the weekend stoked fears of a broader regional conflict, pushing investors towards safe-haven assets.

The president had opposed Israeli action against Iran but came to believe that Israel had reason to act and that the U.S. would have to lend some support.