Oil Surges on Trump's Iran Threat, Gold Retreats from Record Highs

• Oil prices jumped significantly after US President Donald Trump threatened military action against Iran, escalating Middle East tensions.
• International benchmark Brent crude oil briefly topped $70 a barrel for the first time since September.
• Safe-haven gold hit a new record near $5,600 an ounce but then retreated, along with silver, which also saw a record high.
• Stock markets in Asia and Europe mostly rose, driven by company earnings and the US Federal Reserve's policy update.
• Meta shares surged 10% on strong quarterly earnings and AI investments, while Microsoft fell over 10% due to AI spending concerns.

Why It Matters: Geopolitical tensions in the Middle East are driving oil prices up, while gold's rally cools off.