Oil & Gold Rally as Syria Vows to Repel US Attack (GLD) (SLV) (NEM) (ABX)

Gold prices climbed on Tuesday morning, tapping $1420 per ounce, the highest level since May. The rally came in response to tensions in the Middle East, as Syria's foreign minister vowed to repel any U.S. attack. The statement followed comments from U.S. Secretary of State John Kerry on Monday claiming undeniable evidence of a large-scale chemical attack.

Investors also reacted to news the U.S. Treasury Department said it would hit its borrowing limit in mid-October.

The double dose of news extended a rally in precious metals, with the spot price of gold higher by $50 in just 3 days. SPDR Gold Shares ETF (NYSE: GLD) and iShares Gold Trust (NYSE: IAU) gained over 1%. iShares Silver Trust (NYSE: SLV) moved higher as well.

Shares of Newmont Mining Corporation (NYSE: NEM) rose pre-market. Barrick Gold Corporation (NYSE: ABX), Goldcorp Inc. (NYSE: GG), Yamana Gold, Inc. (NYSE: AUY), Silver Wheaton Corp. (NYSE: SLW) and other miners gained.

United States Oil (NYSE: USO) climbed 1.8% as crude prices marched to higher.

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