No tension: As the war in Israel affects the global prices for gold

Gold rates continue to change against the background of increased demand. At the same time, a serious jump in prices has not yet happened, although investors believe that it all depends on how the situation in the Middle East will develop further. The cost of gold in the world markets decreased by 1. 1% by Monday evening, October 30, since the fears of some investors regarding the large -scale terrestrial invasion of Israel in gas were not confirmed. Bloomberg writes about it.

The publication states that gold can still rise if the confrontation between Tahal and Hamas leads to a serious escalation in the Middle East. Many investors believe that the fighting will affect the region that is important for energy supply. So, according to Stonex analyst Rona O'Connell, geopolitical factors have only begun to form for further rise in price. "The excitement that happened a few weeks ago, when the stocks rose, was a little exaggerated," she said.

For example, the war has now changed the interest rate in the United States and the profitability of treasury bonds, which are the main drivers of gold prices. So far, the war between Israel and Palestine has been limited to the markets of goods and raw materials: the price of oil has increased by 6% from October 7, when Hamas fighters invaded the territory of Israel. At the same time, the cost of agricultural products and metals remains the same level.

However, according to the world bank analysts, the further situation in the world energy market depends directly on the escalation of hostilities in the Middle East. Then, it is expected, oil prices are likely to "fly" by 75%. With the worst development, if the world's oil supplies are reduced to 6-8 million barrels per day, the cost of oil will reach up to $ 157 per barrel. In parallel in the markets of Asia and Europe, the price of natural gas will begin.

Meanwhile, the price of December futures for the Brent Brent Oil on the ICE Futures London Exchange, according to Reuters, as of October 31 is $ 87. 81 per barrel. WTI oil futures quotes for December at the New York Commodity Exchange (NYMEX) amounted to $ 82. 78 per barrel. As a result of the last session, they lost almost 4 dollars.