Topic
middle east tensions
Commodities Gold Prices Jump Over 1% as Easing Middle East Tensions Drag Oil Lower, Fed Decision in Focus
Gold prices jumped over 1% in early trade as hopes of de-escalation between the US and Iran pushed crude oil prices lower, reducing inflation concerns. Spot gold climbed 1.4% to $4,110.56 an ounce, while silver surged nearly 5%. The Federal Reserve's upcoming monetary policy decision is now the key driver for precious metals.
Finance Rupee falls 12 paise to 96.42 as Middle East tensions lift crude oil prices above $90
The Indian rupee weakened 12 paise to 96.42 against the US dollar in early trade on Monday, driven by rising crude oil prices and escalating Middle East tensions. Foreign capital outflows and a decline in domestic equity markets added pressure. Brent crude surged 2.45% to $90.26 a barrel following a collapse of the US-Iran interim agreement and stalled shipping through the Strait of Hormuz.
Commodities Gold Slips as Middle East Tensions Push Crude Higher; Silver Also Declines
International gold prices slipped as rising Middle East tensions pushed Brent crude above $90/barrel, reviving inflation concerns. Spot gold fell 0.4% to $4,000.55/oz, while Comex gold futures for August delivery dropped 0.3% to $4,005.9. Silver also declined sharply. Physical demand weakened in Asia, with Indian discounts widening to near one-month highs.
Business Asian stocks cautious as Middle East tensions and Fed rate hike worries grip investors
Asian equities traded cautiously on Monday as lingering Middle East ceasefire uncertainty and expectations of further US interest rate hikes kept investors on the sidelines. Japan's Nikkei fell 1%, South Korea's Kospi dropped nearly 2%, and MSCI's Asia-Pacific index slipped 0.4%. Oil prices rose on supply fears, the dollar hovered near one-year highs, and AI stocks faced renewed pressure from rotation into cyclical sectors.
Commodities Crude Oil Prices Surge 3% as US Strikes Iran Over Strait of Hormuz Attacks
Oil prices jumped nearly 3% after the United States launched military strikes against Iran in response to Iranian attacks on three commercial vessels in the Strait of Hormuz, reviving fears of supply disruptions through the critical chokepoint. Brent crude traded at $75.54 a barrel and WTI at $71.81 a barrel as the US also revoked its sanctions waiver on Iranian oil sales.