The conflict in the Middle East may intensify this weekend, triggering a global risk aversion, and investors are flocking to safe-haven assets. Although the US dollar fell on Friday (13th) and was relatively unchanged from yesterday’s performance,goldinternational oil prices, and bond prices are all soaring.
before deadline,dollar indexIt rose to 106.415, having made no progress since reaching levels last Friday before the release of the U.S. September non-farm payrolls report.
The U.S. dollar was unchanged relative to yesterday. (Photo: ZeroHedge)
The Israeli military was massing tanks near the Gaza Strip on Friday in anticipation of launching a ground invasion and called on all civilians in Gaza City, the largest city in the Gaza Strip, to move south within 24 hours. On the other hand, the Ezzedine al-Qassam Brigades, an armed group affiliated with Hamas, said it had launched 150 missiles into Ashkelon, Israel, as a response to the displacement and targeting of civilians. response.
While the war between Israel and Hamas has yet to have any impact on global oil supplies and flows, traders worry the conflict could disrupt crude shipments through key transportation arteries or lead to tighter restrictions on Iranian oil exports restrictions. In addition, the United States has strengthened sanctions on Russian crude oil exports, which has intensified market concerns about supply.
Trevor Greetham, head of multi-asset at Royal London Asset Management, said that while the market is assessing the above situation every day, one scenario is that oil prices will indeed rise significantly to deal with possible supply disruptions in the region.
As of press time, West Texas crude oil futures expiring in November rose 3.86% to US$86.11 per barrel;Brent crude oilFutures rose 3.90% to $89.35 a barrel.
West Texas crude oil futures rose nearly 4%, and Brent crude oil prices soared to nearly $90 a barrel. (Photo: ZeroHedge)
Meanwhile, since Hasmah attacked Israel,goldHas been rising, spotgoldIt has returned to above US$1,900, and bonds have once again flooded into buying, recovering most of the gains after the release of yesterday’s US September Consumer Price Index (CPI) report.Before deadline, the United States 10-Year Treasury Bond YieldIt fell to 4.64%, narrowing the decline from the opening;goldrose 2.32% to US$1,926.60 per ounce.
Gold prices have been rising since the Israeli-Palestinian conflict broke out. (Photo: ZeroHedge)
2023-10-13 14:54:10
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