{"id":72755,"date":"2023-10-15T02:54:49","date_gmt":"2023-10-15T06:54:49","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/oil-treasuries-gold-prices-jump-amid-mideast-fears\/"},"modified":"2023-10-15T02:54:52","modified_gmt":"2023-10-15T06:54:52","slug":"oil-treasuries-gold-prices-jump-amid-mideast-fears","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=72755","title":{"rendered":"Oil, Treasuries, gold prices jump amid Mideast fears"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS\/Tyrone Siu\/File Photo<\/span>
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By Caroline Valetkevitch<\/p>\n

NEW YORK (Reuters) – Oil, U.S. Treasuries and gold prices rose on Friday, with crude soaring nearly 6%, on safe-haven buying driven by the escalating Middle East conflict as Israel urged civilians to leave the northern Gaza Strip.<\/p>\n

surged 7.5% in the week since the conflict began, posting its highest weekly gain since February, as investors priced in a chance of escalation in the world’s top oil producing region.<\/p>\n

On Wall Street, the ended lower despite upbeat results from big U.S. banks on Friday, which marked the unofficial start of the third-quarter reporting period for S&P 500 companies. <\/p>\n

Weak U.S. consumer data also weighed on stocks. U.S. consumer sentiment deteriorated in October, with households expecting higher inflation over the next year.<\/p>\n

Shares of JPMorgan were up 1.5% after it reported a 35% profit increase from the year-ago quarter.<\/p>\n

The Israeli military called for civilians to leave Gaza City ahead of an anticipated ground invasion in response to devastating attacks by Hamas militants at the weekend.<\/p>\n

The yield on 10-year Treasuries was last down 8.2 basis points at 4.629%.<\/p>\n

added 3.2% on the day to $1,928.99 an ounce, and had its biggest weekly percentage gain since March.<\/p>\n

Brent futures rose $4.89, or 5.7%, to settle at $90.89 per barrel, and closed $4.78, or 5.8%, higher at $87.69 a barrel.<\/p>\n

“The goal is to get into a safe asset that would work if the ground assault gets bad over the weekend,” said Marvin Loh, senior global macro strategist at State Street <\/span><\/span> (NYSE:) in Boston.<\/p>\n

“Everything that’s going on in the Middle East is getting more and more unfortunately depressing and seems to have the potential to get worse,” he said.<\/p>\n

In stocks, the rose 39.15 points, or 0.12%, to 33,670.29, the S&P 500 lost 21.83 points, or 0.50%, to 4,327.78 and the dropped 166.99 points, or 1.23%, to 13,407.23.<\/p>\n

The pan-European index lost 0.98% and MSCI’s gauge of stocks across the globe shed 0.81%.<\/p>\n

The dollar was also helped by safe-haven buying driven by the escalating Middle East conflict.<\/p>\n

The , which measures the U.S. currency against six of its major peers, ticked up 0.11% to 106.63. The index, which jumped 0.8% on Thursday, its biggest one-day rise since March 15, is on pace to finish the week up 0.5%.<\/p>\n

Data earlier on Friday showed China’s consumer prices were flat in September, while factory-gate prices shrank more slowly, indicating deflationary pressures persist, while exports and imports continued to contract at a slower pace. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS\/Tyrone Siu\/File Photo By Caroline Valetkevitch NEW YORK (Reuters) – Oil, U.S. Treasuries and gold prices rose on Friday, with crude soaring nearly 6%, […]<\/p>\n","protected":false},"author":1,"featured_media":2278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-72755","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nOil, Treasuries, gold prices jump amid Mideast fears | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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