Oil bullish by Middle East drama/Gold still on the rise /Drums of war

Jan 06,2020

Regain Capital

Overnight Reviews:

Gold: 1.54%

Silver: 0.15%

US Index: 0.11%

WTI Oil: 3.07%

NDX: 1.21%

Oil bullish by Middle East drama

The crude oil market jumped with the US-Iran tensions last Friday, reaching levels from April last year. This new high reached on Asian session, with a gap on the opening, confirm the bullish momentum caused by the airstrike in Baghdad, escalating the tension in the Middle East.

Gold still on the rise

The precious metal soared at a seven years-high as the risk-off open the week. This new high, last seen in April 2013, is attributed to geopolitical factors and actual tensions in the Middle East, where investors are getting assets into the safe-haven market as precautionary measures against any eventuality.

Drums of war

2020 has now truly kick-off with the markets returning from the holiday seasons. The incidents, where the latest escalation of events and tensions has brought the market to a risk-on mode with safe-haven and energy commodities assets soaring. With plenty of key data scheduled for this week to be released, guarantee a not bored trading week ahead.

Main Events Today GMT +8

N/A

Previous article: Oil with losses but still bullish/Gold continues rally/DXY recovered some grounds

Next article : Oil bullish paused/Gold giving back some grounds/Risk-off in the market as lack of headlines

Oil bullish by Middle East drama/Gold still on the rise /Drums of war

MAIL