Investors turned to safe haven assets Monday following last week’s attacks in Paris, which killed around 132 people, sent gold and crude oil prices higher.
Spot gold prices closed at $1,093.310 an ounce, up 1%, with $316 million or about 3,000 lots changing hands in the first 10 minutes of trade. Also, palladium, platinum, and silver climbed 1%.
Oil prices did not gain as much as it would have because of disappointing fundamentals. Brent oil prices added 1%, while the US Nymex oil prices went up 0.9%.
The assaults are now igniting a more coordinated campaign against ISIS which eventually eliminates some of the geopolitical perils “that again means that it’s probably bearish for oil,” said Johannes Benigni, Founder and Managing Director at JBC Asia.
The material has been provided by InstaForex Company – www.instaforex.com