Iran's missile attacks on Israel cause rise in safe-haven assets like USD and gold

From Investing.com: 2024-10-02 05:55:00

Iran fired missiles at Israel in retaliation, causing safe-haven assets like the dollar, yen, and gold to rise. The dollar became a safe haven after Iran’s attacks, with Treasury yields falling. Concerns about a US recession drove investors to the dollar. Gold surged over 1% due to geopolitical tensions. Oil prices rebounded over 8% following the attacks, as fears of supply disruptions grew. Wall Street fell after the missile strike, impacting all major indices. Euro fell on expectations of ECB rate cuts due to weak inflation data, while investors await US jobs report for guidance on rate cuts.



Read more at Investing.com: US Dollar, Gold and Yes Attract Safe-Haven Flows as Global Uncertainty Grows