Following a 12-day air war in June 2025, Israel attacked Iran on Saturday, and a United States (US) attack is underway, plunging the Middle East into a renewed military confrontation and further dimming hopes for a diplomatic solution to Tehran's nuclear dispute with the West. According to the new agency Associated Press (AP), the Iranian Supreme Leader Ayatollah Ali Khamenei was killed in a major attack on Iran launched by Israel and the United States, throwing the future of the Islamic Republic into doubt and raising the risk of regional instability. This fallout in the Middle East is expected to escalate geopolitical tensions and uncertainty among investors, and various assets, especially equities, gold, and silver, are expected to react when trading resumes on Monday.

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