Buy gold and oil for protection as Middle East tensions escalate, UBS says

Pelican Press · 2024-08-01T15:06:49+0000

This is the hidden content, please Sign In or Sign Up Buy gold and oil for protection as Middle East tensions escalate, UBS says As tensions escalate in the Middle East , investors should consider adding gold and oil as a hedge. “A wider regional war could affect oil supplies, which would likely lead to quick price spikes. Gold, meanwhile, should serve its role as a more ************* asset,” UBS analysts led by Tilmann Kolb told clients in a Wednesday note. ******* and Iran appear on the verge of a direct conflict after the ************** of ****** political leader Ismail Haniyeh in Tehran this week. Iran has vowed to retaliate, with sources telling the New York Times that the Supreme Leader Ayatollah Ali Khamenei has ordered a direct strike on *******. Days prior, a rocket launched from Lebanon ******* 12 children in the ********-occupied Golan Heights. ******* blamed Iran-backed Hezbollah and launched a strike in Beirut that ******* one of the militia’s senior commanders, Fuad Shukr. “We do not believe anyone has a clear interest at the moment to broaden the war, but the risk of any retaliation or miscalculations triggering a wider military conflict is high,” the UBS analysts wrote. Gold has risen since the Beirut strike, “underlining its risk hedge characteristics,” the analysts said. High demand from banks and a likely uptick in demand when the Federal Reserve lowers rates should also push gold prices higher, they said. This is the hidden content, please Sign In or Sign Up #Buy #gold #oil #protection #Middle #East #tensions #escalate #UBS This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up

By Pelican Press,
August 1, 2024 in World News

https://hopzone.eu/forums/topic/84677-buy-gold-and-oil-for-protection-as-middle-east-tensions-escalate-ubs-says/

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Posted August 1, 2024

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