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Precious metals and gold are up 1 percent because of geopolitical tensions

2019-06-14 08:40 am | Resource: News | No Views : 68

 Precious metals and gold are up 1 percent because of geopolitical tensions

Precious metals traded in the Green Zone on Friday with gold adding 1% to European trade as investors worried about rising geopolitical tensions. Market observers turned to safe assets such as the yellow metal in the wake of the attack on two carriers in the Gulf of Oman, especially after the United States accused Iran of being behind the attacks, which Tehran categorically denied. At the same time, trading continued in anticipation of the US interest rate decision.

Pompeo: Iran responsible for the attacks of Gulf of Oman tankers

The US government estimates Iran is responsible for the attack on two tankers in the Gulf of Oman earlier in the day, US Secretary of State Mike Pompeosaid on Thursday.

Pompio claimed that this was only the latest in a series of provocations carried out by Iran in an attempt to get the United States to end its "maximum successful pressure campaign" on the country and criticized Iranian Foreign Minister Mohammad Jawad Zarif for his character in the incident that occurred today. "Zarif may think this is funny, but no one in the world is doing that," said the senior US diplomat. "These unwarranted attacks represent a clear attack on international security," Pompeo said in a statement to the press. He added that Washington condemns the "Iranian attack" on the freedom of navigation and "targeting innocent civilians" and pointed out that the United States will continue to defend "its forces and interests" in the region.

Iran rejects US allegations of tanker attacks and calls for dialogue

Iran has categorically refused to accuse the United States of being responsible for attacks on oil tankers in the Persian Gulf and called on the international community to prevent "reckless and dangerous policies and practices of the United States and its regional allies in escalating tensions in the region."

"Iran is ready to play an active and constructive role in ensuring the security of strategic sea lanes as well as promoting peace, stability and security in the region," Iran's UN mission said after Washington blamed Tehran for the attacks. Missile destroyer destined for the Persian Gulf. "The Islamic Republic of Iran reaffirms that the only solution to the tension in this region is the active and constructive participation of all the States of the region in the context of genuine dialogue based on mutual respect, inclusiveness and the fundamental principles of international law." .

Precious metals trading
  • Spot gold rallied 1.04%, trading at $ 1,256.37 an ounce at 9:03 am, up to its highest level since April 11, 2018.
  • Meanwhile, silver rose 0.92% to trade at $ 15.04 an ounce at 9:04 am
  • Platinum rose 0.39% to $ 815.11 an ounce at the same time.
  • Meanwhile, palladium rose 0.38% to sell at $ 1.453.69 an ounce at 9:05 CET.


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