Hong Kong CNN  —  Gold prices rose while Asian stocks mostly fell on Monday, as rising geopolitical tensions in the Middle East spurred demand for safe haven investments after Iran launched an unprecedented attack on Israel. Japan’s Nikkei 225 and South Korea’s Kospi both fell more than 1% in morning trade. Hong Kong’s Hang Seng Index dropped 0.8%. But China’s Shanghai Composite Index rose 1.2%. Spot gold was up 0.6% at $2,358 per ounce on Monday. It had hit an all-time high of $2,431 per ounce on Friday because of fears of a potential attack by Iran on Israel. So far this year, bullion has surged 18%. US gold futures also added 0.1% on Monday. They are up 15% this year. Oil prices had settled higher on Friday in anticipation of retaliatory action from Iran, hitting their highest levels since October. They retreated slightly during Asian trading hours on Monday, as traders curtailed the geopolitical risk premium after the attack caused only minor damage, according to Israeli military officials. Still, US crude futures have risen 6.7% this year. Brent crude, the global oil benchmark, has surged more than 10%. An anti-missile system operates after Iran launched drones and missiles towards Israel, as seen from Ashkelon, Israel April 14, 2024. REUTERS/Amir Cohen TPX IMAGES OF THE DAY Amir Cohen/Reuters Related article Why Iran attacked Israel and what comes next “Heightened tensions in the Middle East amid a worsening geopolitical backdrop kept commodity markets on edge,” analysts from ANZ said in a research report on Monday. Iran’s attack is likely to raise concerns of a possible disruption to oil supply, they said. “The extent of that risk will likely be determined by the reaction of Israel’s government,” the analysts added. The Middle East was plunged into uncharted waters after Iran launched scores of missiles toward Israel late Saturday. Israel’s military said “99%” of the more than 300 projectiles were intercepted by Israel and its partners. People walk past the New York Stock Exchange (NYSE) on April 10, 2024 in New York City. Spencer Platt/Getty Images Related article Dow closes nearly 500 points lower on fears of potential Iranian attack on Israel Tehran’s attack was anticipated following a suspected Israeli strike on an Iranian diplomatic complex in Syria earlier this month. Before Iran’s attack, US stocks ended Friday sharply lower, as Wall Street worried about escalating tension in the Middle East. US futures are cautiously higher after US President Joe Biden and his national security team, seeking to contain the risk of a wider regional war, told their counterparts the US will not participate in any counter-strike against Iran. Dow futures rose 80 points, or 0.2%, in Asian hours on Monday. S&P 500 and Nasdaq futures were up 0.2% and 0.3% respectively.