Iranâs missile launch on Tel Aviv sent oil and gold prices soaring today. The attack comes after weeks of fighting with the #Iranian -backed Lebanese Hezbollah.
Oil Prices: Brent crude rose 4.6 percent to 75 per barrel. The rise came after Iranâs attacks on Israeli cities on Tuesday evening, October 1. Oil prices were hovering at their lowest levels in two weeks due to the impact of the Middle East conflict on oil exports and the slowdown in global demand. Despite this, sentiment on energy signals rose 1.3 percent.
Gold Prices: Gold futures rose 1.15 percent to 2690.1 in one go, setting a new record. Tensions in the Middle East have increased gold prices by increasing the search for safe havens.
Bitcoin Price: Bitcoin fell 2.13 percent to 62.23 thousand right. Iranâs missile attack on Israel halted Bitcoinâs rally following last weekâs US Federal Reserve rate cut.
Iranâs attack on #Israel began in these three cities.
European stocks: European sentiments slumped as growth risk aversion amid tensions in the Middle East. The Stoxx 600 index gave up gains, falling 0.4%.
Safe Haven Currencies: Japanese Yen and Swiss Franc were hit by news of Iranâs ballistic missile strikes. At the same time, strong US labor market data protected investors.
A senior White House official said the US was actively arming Israel in its defense. âThe market largely ignored the Middle East conflict last month, but a direct conflict between Iran and Israel is always a risk,â Forex Liveâs Adam Button said.
The Japanese Yen rose 0.1% to 143.5. Markets were positive after US Federal Reserve Chairman Jerome Powell ruled out further interest rate cuts. The euro fell 0.55% to 1.1075, while the Australian dollar lost 0.32% to 0.6891.
