8 minutes agoIsraeli strikes on Iran increase gold prices
Periskopi(a year ago)
(a year ago)Gold prices rose significantly as investors worried about Israeli attacks on Iran, causing an increase in the demand for safe assets. On the physical market, an ounce of gold was traded at $3,423.46 a morning, 1.2 percent more than yesterday's closure. More than 3.5 percent has increased since [...]
On the physical market, an ounce of gold was traded at $3,423.46 a morning, 1.2 percent more than yesterday's closure.
It's up to 3.5 percent since the beginning of the week.
On the American market, future gold contracts were traded 1.2 per cent higher than $3.444.10.
Israeli attacks and Iranian response
Israel attacked nuclear facilities and ballistic missile factories in Iran earlier this morning, claiming it prevented Iran's nuclear weapons programme.
Tehran has repeatedly stressed that its nuclear programme is exclusively civilian in nature and has responded by sending about 100 fears towards Israeli territory.
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The gold reaction (price) could extend for a longer period of time in case of disruptions in oil supply, either because of direct attacks or indirect political measures”, Menke added.
A long-term increase in oil prices would also be the spread of conflict in other countries in the Middle East region, Menke added.
Investors usually buy gold during geopolitical and economic tension periods, as well as lower interest rates.
The price of one silver ounce was stable on the physical market at $36.36. Paladium increased by 0.5 per cent to $1,061.06.06. Platini, on the other hand, was traded at a price of 1.5 per cent lower, at $1,274.30. /Periscope/
