The gold price has pushed up above US$2005/oz on geopolitical news. The oil price has risen on the same news.
Wider clashes in Gaza from Israel's "expanding ground activity" is behind the rises. The risks of military action on other Israeli borders is high. US involvement, already evident in Syria, is a factor too.
The highest daily gold close on record is US$2,060 on August 6, 2020.
The international price of oil (Brent standard) has risen to US$89/bbl so far today (Saturday). But that is a long way from it's all-time high of US$140/bbl in June 2008.
So far, the bitcoin price hasn't shown the same price reactions.
8 Comments
The Gaza war will be ongoing regardless of the truce called by the UN vote this morning. I wouldn't be surprised if the USA commits a 3rd Carrier to the region and it needs some support vessels there as well not just carriers. Bottom line there is no direct support for Gaza from other Arab counties and Israel knows it.
Yes Israel, under the mighty USA defense umbrella, with go all out to kill and apprehend every Hamas operative they can get over the coming weeks/months. They go all in and cut the head of this snake now, or they will see this attack repeated.
It will be the Mossad/IDF playbook, after the Israeli Olympian killings - make your enemies remember (all perpetrators perish) the pain for years.
Very sorry to see civilians on both sides, paying seriously.
Gold, Oil, miners/drillers, will be the assets of 2024.
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