What the return of Middle East tensions could mean for markets

WorldNews

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Following the news of last week’s assassination of Qassem Soleimani, the head of the Iranian Revolutionary Guards’ overseas forces, South African Finance Minister Mboweni took to social media in a series of tweets stating that escalating tensions between the US and Iran will negatively impact on the global economy, including the South African economy. The oil price has risen sharply to over $70 a barrel at the time of writing, amid concerns that tensions in the region will impact supply. Meanwhile, the value of assets perceived as “safe havens” such as gold, the Japanese yen and US Treasuries has also risen. Indeed, the price of gold at one point on Monday hit its highest level since April...

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