ISTANBUL The price of gold rose sharply Friday following Israel's sweeping airstrikes on Iran's nuclear program and long-range missile capabilities. The price of one ounce of gold rose 1.11%, to currently stand at $3,424.60 as of 0615 GMT. Gold had already reached record highs earlier this year, surpassing $3,400 amid global trade tensions triggered by US tariffs. While prices had since stabilized at around $3,300 as trade fears eased, the latest escalation in the Middle East has once again