Spot price of gold was higher at $3,387 after Iran launched missiles at a US air base in Qatar on Monday night, according to Bloomberg.

Gold futures are also higher at $3,397.8, according to Investing.com.

The prices of the yellow metal have been hovering near record-highs as new developments in the conflict bring fresh safe-haven demand. Gold prices in India were also higher at Rs 99,750, according to the India Bullion Association.

Qatar hosts thousands of American service members at the Al Udeid Air base. Al Udeid is the regional headquarters for US Central Command, which oversees the American military in west Asia.

There are about 9,000 US service members in gas-rich Qatar, which sits just across the Persian Gulf from Iran. Earlier, the US and UK urged citizens in the country to take shelter and the Qatari government suspended air traffic, according to reports.

Earlier, gold and silver prices were little but were still trading near their all-time high levels, as per the India Bullion Association. Gold price was trading at Rs 99,320 per 10 grams at open on Monday, slightly lower than its all-time high of Rs 1,00, 480 per 10 grams.

The yellow metal had risen to $3,500 on April 22, according to Bloomberg. With fresh safe-haven demand, the price has hovered near the high-mark as geo-political tensions shot up.

The yellow metal hit the all-time high last week after Israel launched military operations targeting Iran's nuclear power plant sites. The prices have inched higher as the tension between the nations have escalated into a much larger conflict with US striking Iran's nuclear sites over the weekend.