Gold Rose To 2013 High After Iran Attacks Iraqi Base Housing US Troops

Financial Services • Jan 8, 2020 at 5:25 AM EST

Iran’s retaliation could be seen to the US administration as an “act of war” which could further escalate the current conflict. Safe-haven bets could be your best bet.

Iran launched a dozen missiles at two Iraqi bases housing US troops earlier this morning in retaliation after a US airstrike killed a top Iranian General last week.

A US official said there was no initial report of US casualties, but an assessment of the impact of the strikes is underway.

Trump’s first tweet on the attacks was “All is well!” and he will only be making a statement tomorrow.

We believe that Trump could use this attack on Iraqi bases as justification for further conflict.

Gold could move higher towards 1663 if Trump were to announce the attack as an act of war.

Disclosure:

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.