In more of anticipation of likely things to happen following the recent embroiled tension between U.S. and Iran, the market has reacted accordingly. Gold is considered a safe haven by investors in terms of economic or political tensions and this time is no exception.
The precious metal rose more than 1.5% to $1,576.42 per ounce in what may be its biggest jump in years.
This volatile move came after an Iranian missile attack on military bases housing US troops in Iraq which also saw Crude oil jump 4% more due to reflecting increased concerns.
It is however unclear on how the response of the United States government will be but in the words of President Donald Trump, the U.S will surely respond.
He tweeted “We have the most powerful and well-equipped military anywhere in the world, by far! I will be making a statement soon” d