U.S. officials confirmed Qassem Soleimani, the leader of Iran's Quds Force, was killed late Thursday in a U.S. airstrike that targeted the convoy near Baghdad. President Donald Trump responded to the threats of vengeance on Twitter, saying that the U.S. is prepared to 'hit very fast and very
As geopolitical tensions mount between the U.S. and Iran, oil prices spiked on Monday and gold prices surged in response to the uncertainty.
'Oil prices could jolt higher depending on if and when Iran retaliates'Uncertainty in the Middle East has historically had a direct impact on oil prices around the world. In the aftermath of the news of the death of Soleimani, oil prices initially spiked by 3%. "There is more a potential that oil prices could jolt higher depending on if and when Iran retaliates," Patrick DeHaan, the head of petroleum analysis at fuel price website GasBuddy, told ABC News.
Still,"markets won't completely go back to normal until there is an all-clear that lasts four weeks. Any new news over the next four weeks could have moderate impact on oil prices," DeHaan said. Gold welcomes a 'flight to haven assets amid the Middle Eastern tensions'Gold prices, which have already been on the rise for the past few weeks, jumped because of escalating tensions in the Middle East, with some analysts predicting investors are turning to gold amid the turmoil.
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