Gold soars as markets remain gripped by US-Iran tensions
Gold is the one stealing the headlines as we begin the session as it triggered stops above the 2019 high in a surge towards $1,588 earlier today. US-Iran tensions remain the major focus of markets and that is helping to see gold and oil gain to start the week.
In the currencies space, the franc is keeping with gains amid weakness in stocks as bonds also find more bids amid the negative risk mood. The loonie is also among the notable gainers as the currency is thriving on higher oil prices.
The dollar is mixed across the board with little change observed against the euro and pound. Meanwhile, the aussie and kiwi are weighed lower as domestic bond yields slip as markets stay more risk averse for the time being.
USD/JPY is keeping around the 108.00 handle as price is struggling to keep a break below the 1 November low @ 107.89 while EUR/CHF is inching towards its 2019 low @ 1.0811.
Looking ahead, there isn't much on the economic calendar to shake things up so expect markets to continue to revolve around tensions in the Middle East ahead of US trading.
