Amid growing concerns that Israel will actually carry out a complete ground invasion of Gaza to drive out Hamas militants from the Palestinian enclave, gold bulls reclaimed the $2,000 an ounce territory that had evaded them over the previous two months as investors sought sanctuary in safe havens.

Spot gold edged up by 1.1% at $2,007.13, meanwhile gold futures added 0.05% at $2,017.70.

The post-settlement gold boom occurred as markets responded to a flurry of articles about the most recent Middle East crisis, in which Israel and Hamas, the fighting parties, were still far from a settlement despite intensive mediation by the US and other international powers.

Overnight, Israeli soldiers launched their largest ground assault on Hamas in Gaza, and according to Prime Minister Benjamin Netanyahu, they were still getting ready for a full-scale military assault.

The prospect of Iran, the world's fifth-largest oil producer, entering the conflict seemed to be becoming stronger every day of the three-week conflict, even as that was being held up by strenuous mediation by international powers.