ORBEX: Gold & Oil Soar on Iran's Military Retaliation!

Iran retaliated against US with ballistic missiles instead of disrupting oil shipments, facing one enemy at a time as China is a big importer.

Gold and crude soared to fresh highs after Iran attacked a US military base in Iraq.

Oil gains, however, were discounted early, perhaps due to EIA’s later report, but gold remains bid near $1600/oz.

Watch our analyses for further technical insights and as we apply Elliott waves.

Trade safe

Stavros Tousios
Head of Investment Research
Orbex

This analysis is provided as general market commentary and does not constitute investment advice