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Oil and gold rose sharply on the news of a possible strike on Israel

October, 01 2024
watermark Economic news

Iran's missile attack against Israel will be carried out in the next few hours, the American newspaper Axios said, citing a US intelligence source.


The White House is concerned about Iran's possible preparations for a military attack on Israel. The United States is actively preparing to help Israel defend itself and warns Iran of the «serious consequences» of such an attack. 


Against the background of this news, gold, acting as a protective asset, sharply accelerated growth. The current value of an ounce of gold reached $2,690, adding 1.18%, which again brought it closer to record highs around $2,700.


Brent crude, which had previously shown a decline, turned around and jumped by 2.65% during trading. Futures reached $74.20 per barrel.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.