The war between Iran and Israel is now taking a serious turn. First Israel and US together attacked more than 30 Iranian bases and now Iran has attacked seven US military bases including Israel. Iran has fired missiles at bases in Kuwait, UAE, Qatar and Bahrain.
Now seven to eight countries have joined this war. Iran is targeting US military bases in the Middle East. Countries like Lebanon and Houthi are also carrying out attacks on behalf of Iran. Many countries are attacking Israel. Due to this there is an atmosphere of fear in the whole world. However, it is difficult to predict how long and how serious this attack will be. Similarly, investors in the stock market are also scared. Let us see its possible impact on different sectors of India…
Huge jump in crude oil prices
Investors from all over the world including India have become scared due to the start of this war. Experts say that this attack is sure to lead to a sharp rise in crude oil prices, which may increase inflation. Many countries including India import their crude oil from the Strait of Hormuz. This area is expected to remain closed during the war, which will lead to an increase in crude oil prices. Crude oil prices closed 2.78% higher at $67.02 per barrel on Friday. When the commodity market opens on Monday, it will increase further.
Possibility of huge fall in stock market
The war has become so intense that experts believe that stock markets around the world, including India, may see a huge fall on Monday. How much this decline will be will depend on investor sentiment and selling. Its signs started appearing in the Indian market on Friday itself, when talks between Iran and America could not reach any meaningful result. Due to this sentiment, Sensex closed down by 961 points or 1.17% and Nifty closed down by 317 points or 1.25%. Now investors’ eyes will be on Monday.
What will be the impact on gold and silver?
Whenever there is a war or war-like situation in the world, the prices of safe assets like gold, silver and copper increase. This global development is once again expected to increase the prices of gold and silver significantly. Currently, the price of 10 grams of gold in the commodity market is Rs 1,61,971 and the price of silver is Rs 2,74,389.
