Oil and gold activity on the first trading day of the week in global markets
While Brent crude prices declined to $109.58 amid expectations that US-Iran tensions would ease, gram gold is trading at 6,415 liras due to geopolitical risks and falling bond yields.
On the first trading day of the week, the barrel price of Brent crude dropped to $109.58 amid expectations that conflicts between the US and Iran could decrease. During the same period, gram gold found buyers at 6,415 liras under the influence of declines in bond yields and the dollar index.
US President Donald Trump's statement regarding potential attacks on Iran, saying "There will be no attack today," somewhat lowered the tension in the markets. However, geopolitical risks remain alive as the Iran-backed Houthis in Yemen announced that they targeted the King Khalid International Airport in Saudi Arabia's capital Riyadh and the East-West Oil Pipeline.
In the gold market, the ounce price increased by 0.3 percent to $4,007. Investors are focused on the midterm elections to be held in the US on November 3 and the interest rate decision to be announced by the Fed.
Sources
- ekonomi.haber7.com · Link