Oil Prices Dip as Israel Counters Iran’s Aerial Assault
Oil prices declined after Israel effectively countered an extensive aerial attack by Iran. U.S. crude futures dropped modestly as tensions, while severe, did not escalate into broader conflict, aligning with U.S. interests to avoid a wider Middle Eastern war. This geopolitical event caused a brief stir in oil markets, reflecting the cautious optimism among traders about the situation’s containment. (Reuters)
Gold Prices Hold Steady Near Record Highs Amid Global Tensions
Gold prices remained near all-time highs on Monday, with spot gold rising 0.6% to $2,357.99 per ounce, following a peak of $2,431.29 last Friday. The ongoing Middle East conflict continues to drive safe-haven investments into bullion. U.S. gold futures also showed stability at $2,374.30. Market analysts suggest that gold is increasingly viewed as a versatile asset, likely to benefit from both geopolitical risks and potential Federal Reserve rate cuts later this year. (Reuters)
Bitcoin Rebounds as Market Eyes Hong Kong ETF Launch
Bitcoin has rebounded to above $65,000, while Ether also recovers to over $3,100 amidst calming market volatility after a thwarted Iranian attack on Israel. The crypto market, previously rattled by geopolitical tensions, now anticipates the potential launch of Bitcoin and Ether ETFs in Hong Kong, potentially unlocking $25 billion in demand. Meanwhile, U.S.-Israel discussions have reduced the likelihood of further military escalation, easing concerns and stabilizing the digital asset market. (CoinDesk)
