Stock Market Update:
As tensions escalated in the Middle East, both gold and crude oil prices surged. Gold is currently at its highest level ever, while crude oil prices have slightly receded from their peak earlier in the week.
Regarding the Iran-Israel conflict:
Over the weekend, Iran launched an attack on Israel using 300 drones and missiles. Despite Israel’s successful interception of 99% of them, Iran claims its operation is complete. However, Israel sees this as just the beginning and intends to retaliate.
Given the Middle East’s significant oil reserves, any prolonged conflict could have global repercussions. Consequently, the USA and its allies are keen to prevent further escalation in the region. However, Israel holds a different stance, reluctant to relinquish its influence there.
Asian Stock Market
Today, Asian markets are trading in the red, with cautious trading in the Nifty. While the Nifty may open lower, the overall global calmness could lead to an upward trend throughout the day.
