Global Markets on Friday Faced a Sharp Rise in Gold and Oil Prices

Hülya Karahan: Production Editor

In the wake of the US act of the killing of the powerful Iranian general Qassim Suleimani affected global markets on Friday faced a sharp rise in gold and oil prices on the one hand and a drop in global stock markets.

Following the US act at Baghdad Airport in Iraq and  killing General Qassim Suleimani, global markets reacted, with gold and oil prices falling and major stock market crashes.

Asian stocks have declined in today’s trading, mainly due to the US attack killing general Suleimani.

In the early hours of today, the US military attacked a car carrying  Suleimani near Baghdad Airport.

While the LMSCI stock index, which is the largestOceanic index outside of Japan, reached its highest level in nearly five years, it declined following the news of the attack.

European stocks are also expected to adopt the Asian market approach after escalating tensions in the Middle East. The Euro-Stock Exchange 1 index fell 0.9 percent and the German stock index fell 0.7 percent. The FTSE index also declined 6.5 percent, which was one of the best performers in the past year, despite efforts to stay positive, but negative at 6.5 percent.

“The impact of the US attack Suleimani’s gilling  on global financial markets is not yet fully understood,” said National Bank of Australia expert Tapas Strickland.

Oil prices continue to rise

Oil prices have now surpassed $ 2 and have fluctuated in the $ 1.5 range, due to the escalation of security in the region due to the act of the US military.

Bloomberg also reported that the price of oil in the last hour traded on the energy market by more than 5.5 percent compared to yesterday’s $ 2.9.

Brent crude is currently trading at $ 4.9 a barrel, up $ 3 per barrel. US crude is also close to reaching $ 2 a barrel, hovering around $ 2.9.

Gold jumps $ 2 on world markets

In the early days of the gold market, with the prospect of escalating tensions in the Middle East.

Kitko also reported that the US attack ongeneral Suleimani’s vehicle  strengthened the prospect of escalating tensions in the Middle East, prompting the gold market to respond and raise prices.

Accordingly, and up to now, the price of gold on the world market has increased by $ 2 to $ 1.5. The price has risen to $ 4.9 a month from the previous month and $ 4 a year higher.

Silver also rose by 5 cents to $ 0.9 an ounce. Platinum and palladium were also priced at $ 1 and $ 2 an additional $ 1 and $ 2 an ounce, respectively.

Iraqi dollar depreciation

Iraqi government bonds experienced a devaluation in trading today following the US attack on Suleimani’s car.

The Iraqi dollar bonds, which were to be redeemed in year 6, experienced the biggest drop in prices.

The value of Iraqi dollar bonds has now reached its lowest level in a few weeks, according to the Refinitiative.