Prices of gold and oil go down post the address of Trump

Prices of gold and oil go down post the address of Trump

The prices of oil and gold had gone down and the equity markets had risen on this Wednesday after the President of United States, Donald Trump had said that the missile strikes of Iran on the bases of Iraq had not harmed any of the troops of United States and the damage which they caused turned out to be minimal which according to him showed that Iran actually wanted to de-escalate the Middle East standoff.

The missiles which had been fired by Iran on the military bases that housed the American Troops in Iraq earlier in day were meant for the retaliation of the airstrike which had been conducted by the United States which resulted in the killing of the Iranian Commander Qassem Soleimani and there were fears raised that the middle east conflict was going to rise.

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Trump though in his address to the nation had said that Iran is seemingly standing down which is a positive thing for all of the parties that were concerned and for the world as a whole.

These comments prompted the stocks indexes of United States to record the intra day highs and the prices of the crude oil tumbled.

Gold in the early trade had seen a surge to a level of over $1,600 but with the conflict fears softening the gains were pared.

Another safe haven, yen saw a fall form the highs of three moths against the U.S. dollar and the Swiss franc which is one more safe haven also saw a retreat.

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The analysts have said that the the fact that the countries want to avoid a war is positive for the economy as a whole and there might be a chance that the conflict is done and dusted.


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