10 minutes agoIran's War Strikes Significantly
Periskopi(4 months ago)
(4 months ago)The Iran war is undermining global oil flows, damaging energy infrastructure and increasing fears of a prolonged conflict. But gold, which is usually considered a safe haven during periods of economic uncertainty, has dropped significantly, writes CNN. The price of gold has dropped by almost 10% this week, leaving [...]
The gold price has dropped by nearly 10% this week, putting it on track for its worst week in 43 years and leading its decline since the beginning of the war to 13%.
In times of turmoil, investors often buy gold, betting that it will retain its value if inflation increases, coins fall or crisis strikes. However, rising energy prices due to the conflict in the Middle East are pushing central banks across the globe to reconsider the prospects for interest rates. This means a lot to the gold.
The riots have also caused a dollar recovery and have prompted investors to reevaluate their possessions.
