Latest news with #geopoliticaltension
Daily Mail
11 hours ago
- Business
- Daily Mail
Investors rush to Gold as Middle East clashes intensify
Friday morning's peak saw gold climb closer to its record price of $3,500.10 per ounce that it hit back in April, as global stock markets tumbled after tensions flared in the Middle East. David Morrison, senior market analyst at Trade Nation, said: 'Gold continues to benefit from a softer dollar and simmering geopolitical concerns. The next upside target is $3,400, a level that has acted as resistance since late April. Israel carried out a series of airstrikes across Iran in Thursday night, hitting nuclear facilities, Iranian military commanders and nuclear research scientists. Israel says the attacks were a pre-emptive strike against Iran's nuclear programme, claiming Iran has been attempting to assemble nuclear weapons. It was reported on Thursday that Iran had failed to comply with the global nuclear watchdog for the first time in 20 years. On Friday, Iran reportedly launched some 100 drones against Israel. Concerns that these exchanges could escalate into full-blown conflict have seen investors buying into gold to hedge against future uncertainty. Rick Kanda, managing director at The Gold Bullion Company, said: 'Gold has a proven track record of performing well during economic uncertainty and global conflicts due to its intrinsic value, which is why many investors see gold as a safe haven. During times of conflict, investors steer away from investing in assets such as stocks and bonds, as geopolitical events often threaten the infrastructures supporting these assets.' The FTSE 100 opened 0.6 per cent lower, while the DAX 40 fell 1.4 per cent and the CAC 40 was down 1.1 per cent. New York's S&P 500 was 1.1 per cent lower in pre-market trading. Shares in London-listed gold miners Endeavor and Fresnillo were lifted by the rush towards safe havens, rising 1.7 per cent and 1.1 per cent respectively.
Argaam
12 hours ago
- Business
- Argaam
Wall Street's VIX jumps over 22% today
The Wall Street's fear gauge surged sharply on Friday, fueled by rising geopolitical tensions in the Middle East following Israeli airstrikes on Iranian facilities. The VIX, which measures volatility expectations on Wall Street, jumped 22.1% to 21.99 points as of 10:39 am KSA time. This spike coincided with a drop in US stock futures, as Dow Jones futures fell 1.3% to 42,429 points, with S&P 500 futures falling 1.35% to 5,967 points. Earlier today, June 13, Israel launched airstrikes targeting Iranian nuclear facilities, stating that the operation aimed to disrupt Tehran's nuclear advancement. These developments triggered market anxiety, as investors feared a widening conflict in the region. This prompted a shift away from riskier assets toward safe havens amid growing geopolitical uncertainty and its potential global market impact.
Bloomberg
2 days ago
- Business
- Bloomberg
Australian Regulators Say Global Fragmentation Is Accelerating
Australian regulators say recent international developments appear to be accelerating the pace of global fragmentation, increasing complexity and volatility. In a quarterly statement, Australia's Council of Financial Regulators highlighted rapid changes in international trade policies, volatility in global financial markets and increased geopolitical tension. It warned that financial markets remained vulnerable to further shocks.
