The price of gold surged on Monday while Asian shares continued to decline, driven by heightened risk sentiment following Iran’s retaliation against Israel. This retaliation has sparked fears of a broader regional conflict, leaving traders on edge and Asian markets cautious at the start of the week.<\/p>\n
According to MSCI’s report on the Asia-Pacific index, shares outside Japan fell by 0.7% after Iran launched explosive drones and missiles at Israel on Saturday in response to a suspected Israeli attack on its consulate in Syria on April 1. This marks Iran’s first direct attack on Israeli territory and has escalated tensions in the already volatile Middle East region.<\/p>\n
The ongoing conflict between these Middle Eastern countries, further complicated by the involvement of the United States, has left the region on edge. US President Joe Biden cautioned Israeli Prime Minister Benjamin Netanyahu that the US would not participate in a retaliatory strike against Iran, while Israel declared that “the campaign is not over yet.”<\/p>\n
Asian markets reflected this heightened uncertainty, with Japan’s Nikkei sliding by more than 1%, Australia’s S&P\/ASX 200 index losing 0.6%, and Hong Kong’s Hang Seng Index slumping by 0.8%.<\/p>\n
The escalating tensions have prompted investors to seek safety, leading to a surge in gold prices by 0.51% to reach $2,356.39 an ounce. Additionally, the safe-haven dollar has strengthened broadly, extending its 1.6% rise from the previous week.<\/p>\n
Neil Shearing, group chief economist at Capital Economics, highlighted the key risks for the global economy, emphasizing concerns over whether the situation will escalate into a broader regional conflict and the potential impact on energy markets. The uncertain geopolitical landscape has added a layer of complexity to market dynamics, prompting investors to monitor developments closely.<\/p>\n","protected":false},"excerpt":{"rendered":"
The price of gold surged on Monday while Asian shares continued to decline, driven by heightened risk sentiment following Iran’s retaliation against Israel. This retaliation has sparked fears of a broader regional conflict, leaving traders on edge and Asian markets cautious at the start of the week. According to MSCI’s report on the Asia-Pacific index, […]<\/p>\n","protected":false},"author":27,"featured_media":27225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[249],"tags":[],"class_list":["post-27222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=27222"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27222\/revisions"}],"predecessor-version":[{"id":27230,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/27222\/revisions\/27230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/27225"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=27222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=27222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=27222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}