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Oil Prices Jump and Gold Hits $5,000 as Tensions Ramp up Between Iran and the US
Oil prices surged nearly 4% amid concerns over disruptions at the Strait of Hormuz, with gold rising above $5,000 per ounce as investors sought safe-haven assets.
- On Thursday, markets reacted as oil prices jumped to their highest level in nearly seven months and gold rose 2% Wednesday, reclaiming $5,000 amid United States–Iran tensions.
- Diplomatic talks in Geneva, where U.S. and Iranian envoys met in recent days, stalled as U.S. Vice President JD Vance said Iranian negotiators ignored President Donald Trump's 'red lines' and the U.S. moved military assets closer, raising tensions.
- Data highlight the shipping chokepoint risk, as Brent crude rose 1.6% to $71.49 and U.S. crude increased 1.74% to $66.18, reflecting market concerns.
- Market strategists say `More immediately, strikes on Iran would risk causing oil prices to jump and threaten to boost inflation in much of the world`, and U.S. stocks opened lower with the Dow down 164 points.
- Looking ahead, analysts note that even limited disruption to the Strait of Hormuz could cause immediate supply shocks, while gold’s recent weeks volatility highlights unstable safe-haven flows.
15 Articles
15 Articles
Oil prices jump and gold hits $5,000 as tensions ramp up between Iran and the US
Oil prices jumped Thursday to their highest level in nearly seven months and investors snapped up safe havens like gold, as tensions between the United States and Iran continue to flare.
Wall Street opens with setbacks this Thursday, in a context marked by the resurgence of geopolitical tensions in the Middle East and renewed doubts about the trajectory of interest rates in the United States. See more: From Iran to Russia: Citi believes the US has electoral incentives to cool oilThe S&P 500 yielded 0.34% after erasing initial advances, while Nasdaq's contracts fell 0.42%, pressured by the weakening of the technology sector.The D…
Rising gold and silver prices signal that investors are concerned about an escalation of the conflict between the US and Iran. Rising precious metals often indicate economic and political uncertainty. The Fed's interest rate decisions may further impact financial markets.
Gold Hovers at $5,000 as Iran Tensions and Fed Loom
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://www.newsghana.com.gh/gold-hovers-at-5000-as-iran-tensions-and-fed-loom/Gold traded at approximately USD 4,990 per ounce on Thursday morning, clinging to the psychologically significant USD 5,000 threshold as investors balanced a wall of geopolitical risk against a calendar of United States economic data releases that could redefine the Federal Reserve’s (Fed) interest…
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