US President Donald Trump's statement regarding Iran has led to rapid price movements in global markets. While in Ankara for the NATO Summit, Trump responded to a journalist's question by saying, "I think the ceasefire with Iran is over. They are liars."
Following the statement, energy and precious metal markets diverged. Brent crude, which started the day at the 75 dollar level, rose to the 78 dollar threshold due to the development. The increase in geopolitical risk perception in the markets has brought concerns regarding energy supply back to the agenda.
DECLINE IN GOLD
On the gold side, a decline stood out. Ounce gold fell from the 4 thousand 130 dollar level to the 4 thousand 80 dollar level, experiencing a loss of approximately 50 dollars. In the domestic market, gram gold also dropped from the 6 thousand 220 lira level to 6 thousand 160 lira.
Thus, a decline of approximately 60 lira was recorded in gram gold. Market actors assess that new statements from the US-Iran line could be decisive on oil prices and safe-haven demand.
According to experts, developments that could affect energy supply may increase volatility in oil prices.
It is stated that investors may make rapid position changes between safe-haven assets and risky assets depending on the flow of geopolitical news.
News Source: 12punto
