Israel-Iran war: gold, and crude oil prices are likely to increase!?

Israeli prime minister Benjamin Netanyahu has said that he is ready for anything after iran launched missiles and drones at Israel. Israeli prime minister Benjamin Netanyahu has said that he is ready for anything after iran launched missiles and drones at Israel. On the 1st, israel launched an aerial attack on the Iranian Embassy in Damascus, the capital of syria, while iran is providing arms support to terrorist organizations operating in syria and lebanon to attack Israel. In response, iran launched missiles and drones at Israel. In this case, the UN is responsible for Iran's attack on Israel. Countries including America, Canada, and germany have strongly condemned it.
Fears of an escalating war between israel and iran have fueled global inflationary tensions again. There is a fear of a difficult situation ahead for the global stock market and the economy. Besides, the import-export business of many countries may also be affected. Apart from this, the price of gold may also rise. In such a situation, experts feel that the coming times could be tough. Iran's recent offensive has heightened tensions in the region, which produces a third of the world's crude oil. In such a situation, if the tension between the two countries escalates, the price of crude oil may increase. Experts believe that this will further increase inflation. Due to this, there may be instability at the global level, including the indian stock market. Crude oil prices increased by 19% year-to-date from $75.89 per barrel on january 2, 2024, to $90.45 per barrel on april 12, 2024. Now due to rising tension between these two countries, there is a high possibility that oil imports and exports will be affected. This will lead to an increase in prices. As the inflation rate increases, the central banks will also decrease the chance of lowering interest rates.
Expressing their views on the possible impact of an Iran-Israel war on the indian stock market and economy, economists say the risk of an escalation of war and Iran's seizure of a ship could see volatility in India's stock markets. The world is closely watching the reaction of israel and the G7 nations. The benchmark equity index BSE Sensex recently touched an all-time high of 75,124.28 on april 4, 2024. Also, experts warn that we may see uncertain times and difficult days ahead as retaliation from israel is expected. gold prices rose by over Rs 1,000 to Rs 72,931 per 10 grams on friday due to rising geopolitical tensions. Due to this geopolitical uncertainty, gold prices rose by 1.60%.

మరింత సమాచారం తెలుసుకోండి:

israel iran war

Sowmiya Sriram

15/04/2024 04:25 PM