Saturday , January 25 2020

Iran’s attack on US: oil, gold prices rise, stock market crashed

stock market

Investors’ concern over the situation in the Middle East is citing a rise in oil and gold prices in the Asian and US stock markets following the missile attacks on US forces in Iraq by Iran.

Iran is believed to have fired more than a dozen missiles at two US military bases in Iraq at around 1:30 pm last night.

According to Iranian state television, the Iranian Islamic Revolutionary guardians confirmed the firing of rockets in response to the death of Qasem Soleimani, which led to tensions in the region.

In a message to the social networking site Twitter, congratulating the American public, US President Donald Trump has said that by now, ‘all is well.’

Related: Iran claims to have killed 80 Americans in missile attacks

While Asian shares fell, the Japanese currency yen saw some stability.

The Japanese currency yen has reached its strongest position since this morning, US currency falls down to 0.8 % compared to the yen.

World markets benchmark Brent crude oil prices increased by $ 3 a barrel.

On the other hand, there has been a record rise in the price of gold in the global market, where gold has reached to $ 1600 an ounce.

Investors are trying to secure their assets following the recent attacks.

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