Gold Hits Six Year High On Fears of US-Iran War, Oil Soars

Web Desk‌Updated: Monday Jan 6, 2020

NEW DELHI : Gold hit more than six-year high and oil prices surged , after US killing of Iranian General Qassem Soleimani, fanned fears of a war in the Middle East.

Following the slaying, Iran threatened revenge to which US President Donald Trump warned ‘major retaliation” against Tehran. Iran also announced rollback of its commitments to the nuclear accord, a move that has escalated fears of impending war. Also Iraq’s parliament on Sunday, demanded that US troops leave the country immediately.

Meanwhile, the crisis has jolted stock market investors across the globe. In India, all benchmark indices plunged low with Sensex losing 600 points in early trade.

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