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Geopolitical tensions are rising. Israeli airstrikes on Iranian nuclear sites sparked market reactions. Oil prices initially surged, but later stabilized. Investors are closely monitoring the Middle East and Washington. They await signals that could influence market sentiment next week. The focus is on the durability of the market rally. Traders are balancing risk and potential gains. The situation remains fluid.
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News and Media
Explosions were heard and seen over Tel Aviv and Jerusalem as sirens sounded across Israel following what the country's military spokesman said was the firing of missiles from Iran. That came after Israel struck nuclear facilities and missile factories in Iran, escalating tensions in the Middle East and undermining global investor confidence. Oil prices surged nearly 7% on fears the conflict could disrupt crude supply from the Middle East. U.S. energy stocks rose in tandem, with Exxon up 2.2% and Diamondback Energy rallying 3.7%.
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News and Media
Jefferies' Christopher Wood notes gold's consolidation above $3,000. He maintains high gold allocation in his pension fund. Western gold ETF flows are light despite gold's outperformance since 2022. Total ETF holdings are below 2020 peak. Gold prices have significantly outpaced the MSCI AC World Index since 2022. China's gold imports surged in April.
Category:
News and Media
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