Wall Street in disarray, a new inflation indicator calms minds
April 12, 2024Wall Street concludes at half mast, worried about geopolitical tensions and inflation
April 15, 2024Expectations that there will be an Iranian attack on Israel in the next two days has money flowing into gold shares. “The ‘fear factor’ over Iran responding to Israel has sent the metals surging as panic buying sets in,” says Peter Cardillo of Spartan Capital Securities. SPDR Gold is up 0.7%, while underlying gold futures rise 1.4%–pushing over $2,400 a troy ounce. Silver climbs 2.5%. Wall Street Journal reports that Israel is preparing for an imminent direct attack from Iran in retaliation for Israel’s airstrike in Damascus last week that killed top Iranian military officials.
