Oil and gold up, stocks down in response to Israeli attack on Iran
A board on the floor of the New York Stock Exchange in New York City shows gold's activity (February 2020). Gold was a bright spot for investors Friday, as gold futures were $3,448.80 at 11:28 a.m., just a tick down from its $3465.80 peak of the day. File Photo by John Angelillo/UPI | License Photo
June 13 (UPI) -- Oil and gold prices jumped Friday as stocks fell in response to Israeli airstrikes on Iran Thursday night.
Crude oil futures have been in the green all day so far, with an open of $68.90 that rose as high as $77.62 before falling back a bit, as by 11:29 a.m. the price was $72.24, which still stands as a 6.17% upsurge.
The stock market on the other hand is down all around, with the Dow Jones Industrial Average being the hardest hit so far, down to 42,509.25 as of 11:36 a.m., which is actually up from its worst point of the day when it plummeted to 42, 259.84 at 10:30 a.m.
The Nasdaq Composite also crept up from a 10:30 a.m. low of 19,381.74 to 19,539.49 at 11:34 a.m., which is still down 0.63%. The S&P 500 also saw a 10:30 a.m. worst at 5,975.91, but rose to 6,012.26 by 11:36 a.m., still pointed downwards at 0.55%.
Aside from oil, gold has been a bright spot for investors Friday, as gold futures were $3,448.80 at 11:28 a.m., just a tick down from its $3465.80 peak of the day so far, still up 1.36% and not far from its record high of $3,500.05, set in April.
Israel reported to have attacked nuclear facilities and missile factories in Iran Thursday that also killed some Iranian military commanders. Iran has since retaliated by launching several drones at Israel in what could evolve into a prolonged conflict.
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