NEW YORK—Gold and energy rose in light trading Monday as investors looked for defensive positions amid stepped-up fighting in the Middle East.

Investors often turn to gold as a safe investment in an uncertain market, and so contracts for February delivery of the metal rose $4.10 to settle at $875.30 an ounce on the New York Mercantile Exchange.

Political uncertainty around the world, including the potential for war, tends to send gold higher. The metal has been recovering after falling in mid-November due to selling by hedge funds and other large investors, and Monday’s...

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