Gold and Oil Prices Climb Amid Rising Tensions in the Middle East...Trump: "Iran Will Not Be Allowed Nuclear Weapons"
Summary
- It was reported that geopolitical tensions are rising due to the partial withdrawal of U.S. troops from the Middle East.
- It was stated that risk aversion is spreading in the market, with both gold and oil prices rising together.
- Uncertainty surrounding Iran has raised the possibility of increased volatility in the financial markets.
The United States is withdrawing some of its troops stationed in the Middle East, heightening geopolitical tensions. Analysts say that as risk aversion spreads in the market, both gold and oil prices are rising simultaneously.
On the 12th (local time), the cryptocurrency-focused media outlet Cryptopolitan reported, "Gold and oil prices are rising as tensions escalate in the Middle East." According to the outlet, on this day, Brent Crude futures rose by 0.2% to $69.92 per barrel, and West Texas Intermediate (WTI) by 0.3% to $68.37 per barrel. This marks the highest level since early April.
The previous day, Donald Trump, President of the United States, stated, "The Middle East could become a dangerous region," and added, "We plan to withdraw military families and some diplomatic personnel from areas including Iraq." He also emphasized, "We will not allow Iran to possess nuclear weapons."
Subsequently, the U.S. Department of State approved the withdrawal of some personnel from the Baghdad embassy.
Meanwhile, on the same day, Iranian Defense Minister Nasirzadeh warned, "If nuclear negotiations break down, we will strike U.S. bases."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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