Raw and gold will boost profits, stocks sink in fear of US-Iran war

Hong Kong: Oil prices have risen since the US assassinated Iran’s top general last week, gold hit a six-year high and equities fell on Monday. Donald Trump has warned that he will take revenge on Tehran for Friday’s assassination of Commander Qasem Solemani, who shocked global markets.

Iran announced on Sunday that it was further withdrawing its commitments to the nuclear deal, and demanded the withdrawal of US troops from the country as the Iraqi parliament spread from the attack. The crisis has stirred investors as China and the US prepares to sign their small trade agreement next week, with data suggesting a slight improvement in the global economy.

READ MORE: Who is Iranian General Kassem Solaimani?

Two major crude deals in early Asian trade were over two per cent, and Brent was up more than $ 70 for the first time since September, when attacks on two Saudi Arabian facilities briefly halved the world’s top producers. The White House has dozens of sites for strikes on Iran’s vengeance, and the US president is in the mood to fight, saying that he does not even need congressional approval when criticizing Iran’s retaliatory actions. As for the “uneven” hit.

“Geopolitical tensions are likely to increase in the coming days, so support for oil prices and keep risk property markets safe,” says Ray Atrill at the National Australia Bank.

It also reads: ‘US does not take Pakistan side of Iran-Iran conflict’

Popular Safe-Haven assets are also growing in turbulent times, with gold not seen as high since mid-2013, when the Japanese yen hit a three-month high.

Geopolitical Reminder

Equity markets have seen losses on Wall Street, where three key indices have fallen from record highs, with seven of the Gulf Cooperation Council states declining, some fearing Iranian retaliation on US assets or troops. While some GCC members, including Kuwait, Qatar and Bahrain, are home to US military bases, there are also hundreds of soldiers in Saudi Arabia.

Losses on equity markets have widened across Asia, with Tokyo down two per cent through the interval, with dealers returning for the first time since the New Year break. Hong Kong lost 0.7 per cent and Sydney 0.4 per cent. Singapore fell 0.5 per cent, Seoul one per cent, Taipei one per cent, Manila 1.7 per cent and Jakarta 0.7 per cent.

However, Shanghai rose 0.3 per cent as investors cheered the authorities’ pledge over the weekend to support China’s troubled banking sector and small businesses in the wake of the mounting debt mountain.

Also read: Gold price at record high of Rs

Friday’s attack sent shockwaves through the global markets, which have made gains among the health forces in the wake of the China-US trade deal, which has eased tensions between the economic powers. The Luger also supported the central bank’s monetary policy, improving financial data and reducing concerns about non-contracting Brexit.

The trade war has been negotiated and the outlook for 2020 is a little better, so we have another geopolitical reminder,” said Peter Dragasevich, Suncorp Group Financial Market Strategist.

Key people around 0230 GMT

Brent crude: UP 2.4 percent to $ 70.24 a barrel

West Texas Intermediate: UP is up 2.2 percent at $ 64.42

Tokyo – Nikkei 225: down 2.0 percent at 23,173.35 (break)

Hong Kong – Hong Seng: Down 0.7 per cent at 28,251.31

Shanghai – Mixed: UP 0.3 per cent at 3,094.18

Dollar / Yen: 228. down at 107.97 yen from 108.11 yen at GMT

Pound / Dollar: UP 30 1.3078 to 30 1.3078

Euro / Pound: UP 85.29 pence to 85.36 pence

Euro / Dollar: UP 1.1155 to UP 1.1163

New York – Dow: 0.8 percent at 28,634.88 (close)

London – FTSE 100: UP 0.2% at 7,622.40 (close)

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