Gold Hits New Highs, Oil Soars On Reports of Trouble In Middle East

The spot price of gold is currently soaring to new highs as a result of reports related to the ongoing situation in the Middle East between the United States and Iran within Iraq. Recent reports published by Fox News and ZeroHedge have indicated that Iranian missiles have attacked multiple locations of US forces in the region.

Gold has neared the US$1,600 per ounce mark, topping out at $1,598.25 at the time of writing as a result of the current reports flooding in across social media and news agencies of the attacks.

Crude oil has also begun to soar as a result of the unfolding events, with the futures for the WTI (USOIL) climbing 4.23% at the time of writing to $65.31 from the days low of $62.67. Oil hit a high of $65.44 before selling off marginally to current levels.

Meanwhile the S&P 500 index has tumbled as a result of the reports. After opening at $3,233 on the hour, the index fell as far as $3,197 following the news.


The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

SSR Mining Q1 Earnings: Costs Continue To Climb

Recommended

PTX Metals Hits 235.1 Metres Of Copper, Nickel Mineralization In Longest Intercept To Date At W2

Riverside Resources Spins Out Blue Jay Gold Corp

Related News

Barrick Gold Disputes Human Rights Allegations At North Mara

Barrick Gold Corp (TSX: ABX) said on Tuesday that it believes the law firm Leigh...

Tuesday, December 13, 2022, 09:25:14 AM

SSR Mining Posts US$322.8 Million In Revenue For Q3 2021

SSR Mining Inc. (TSX: SSRM) reported today its financial results for the third quarter of...

Wednesday, November 3, 2021, 11:46:00 AM

Troilus Gold Announces 20,000 Metre Drill Program For Fall 2020

Troilus Gold Corp (TSX: TLG) announced a new 20,000 metre drill campaign this morning for...

Wednesday, September 23, 2020, 09:24:52 AM

Superior Gold Releases Further Drill Results For Plutonic Gold Mine

Superior Gold (TSXV: SGI) this morning announced further results from its underground drill program at...

Wednesday, June 24, 2020, 09:07:05 AM

No Mill, No Tailings, No Problem | J. Malcolm Bell – Nova Pacific

Nova Pacific Metals (TSXV: NVPC) is challenging traditional mining approaches with an innovative strategy for...

Friday, March 7, 2025, 02:20:00 PM