Israel says Hamas, which rules Gaza, is using the protests as cover to carry out cross-border attacks.
Israel has been battling large fires caused by kites and balloons rigged with incendiary devices or burning rags launched from Gaza that have destroyed forests, burned crops and killed wildlife and livestock.
TRT World's Mohammad Mansour reports from Gaza.
A statement from the military wing of Hamas, the Islamist group that runs Gaza, claimed responsibility for the rockets.
'As of now, 36 rocket launches were identified from Gaza towards Israel, ' the army wrote on Twitter.
The strikes come in retaliation for a six-hour barrage of rockets which forced thousands of Israelis to seek shelter along Gaza border towns.
On Wednesday, an IDF tank again struck Hamas posts in Gaza after gunmen opened fire at a civilian vehicle involved in the construction of a barrier along the border.
Following the strike, Hamas' Izzedine Al-Qassam Brigades announced that two of its members were killed in the strike, naming them as Ahmad Margan and Abdel Hafex Al-Silawi, both 23-years-old and from the Jabalia refugee camp.
Bomb damage caused by the Israeli airstrike
Over the past four months, 158 Palestinians have been killed by Israeli fire, including at least 120 in the protests near the fence and others in Israeli air strikes and other incidents elsewhere in Gaza, according to the Gaza Health Ministry and a local rights group.
The escalation comes after the Hamas leadership convened for a rare meeting in Gaza on Friday.
The area where the rockets fell have been closed off by the police as bomb disposal units were called to the scene.
The exchange came amid continued attempts by Egypt to broker a broad cease-fire deal between Israel and Hamas.
Twenty-four of the slain protesters were minors, the ministry has said.
One Hamas militant was killed in the air strikes, as was a Palestinian woman and her 18 month old child, Palestinian officials said.
They also demand an end to Israel's 11-year blockade of the Gaza Strip, which has gutted the coastal enclave's economy and deprived its roughly two million inhabitants of many basic commodities.
United Nations officials have however called for the blockade to be lifted, citing deteriorating humanitarian conditions in the Palestinian enclave run by Islamist movement Hamas where 80 percent of the two million population are dependent on aid.
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