Gold soars higher as risk aversion grips markets
In the major currencies space, the yen and dollar are keeping more firm while the aussie and kiwi are the notable laggards. The euro and pound have also slipped further in the European morning amid further selling amid the risk-off mood.
Bonds continue to nudge higher and that has also seen gold push forward with further gains as it moves towards the $1,550 level - near four-month highs. Meanwhile, equities continue to be punished with European equities down across the board; the DAX is down by 1.6%.
US futures aren't spared from the more negative risk sentiment as E-minis are down by ~1% at the moment. That should lend towards a rough start for the cash equity market later.
Oil remains one of the bigger beneficiaries in all of this as Brent and WTI are now over 4% higher as geopolitical tensions in the Middle East remain high.
As mentioned earlier, the escalation in US-Iran tensions is still very much 'fresh off the oven' so this should see markets adopt a more cautious tone going into the weekend.
