OIL - Financial Markets On Edge As Oil And Gold Prices Could Soar Amid Rising Israel-Iran Tensions | Benzinga
As the new week approaches, the financial markets are bracing for increased uncertainty, especially with the recent unprecedented attack by Iran on Israel.
This development has heightened concerns about potential retaliatory actions, adding another layer of complexity for investors already navigating the challenges of persistent inflation and the anticipation of sustained high-interest rates.
Bloomberg reported that the escalation of the Middle East crisis is anticipated to bring additional volatility to the trading landscape.
Amidst the uncertainty, gold has surged to record highs, while the U.S. dollar has strengthened, reflecting the shift towards more stable investments during geopolitical turmoil.
Last year in October, when Hamas launched attacks on Israel, the underlying worry among market players was Iran's possible involvement.
With the conflict expanding, predictions are circulating that oil prices might breach the $100 mark, while safe-haven assets like treasuries, gold and the dollar may see increased demand amidst further declines in the stock market.
Despite the ...