London. There is panic in the world after Iran’s massive missile attack on Israel. As a result, the prices of crude oil and gold have increased. Apart from these, the prices of bonds and dollars have also increased. According to the latest news, after Iran fired more than 180 missiles at Israel and Benjamin Netanyahu threatened to take revenge, the price of crude oil has gone up to $75. The price of West Texas Intermediate (WTI) crude oil jumped by 5 percent and reached $ 71 per barrel. At the same time, the price of Brent crude has also increased. Brent crude is now selling at a price of $ 75 per barrel. Let us tell you that one-third of the total crude oil supplied to the world comes from the countries of Central Asia. Increase in the price of crude oil may increase the prices of petrol and diesel and this is likely to increase inflation in India.
Due to Iran’s missile attack on Israel, investors may now rush to buy gold. In such a situation, the price of gold has also increased. There was a 1 percent jump in the price of spot gold and it has reached the price of $ 2661.63 per ounce. However, earlier the price of spot gold had reached $ 2685.42 an ounce. If Israel responds to Iran’s missile attack and a war starts between the two countries, then the prices of crude oil and gold may increase further. The price of gold had decreased in the last few days, but now there are chances of it gaining momentum. In situations like war and recession, people rely on investing in gold only.
The reason for the war between Iran and Israel is Hamas and Hezbollah. Israel has taken swift action against both the organizations. Whereas, Hamas and Hezbollah continue to receive support from Iran. The death of Hezbollah chief Hassan Nasrallah in an Israeli attack has created a battlefield between Iran and Israel in Central Asia. On the other hand, the war between Russia and Ukraine is also going on. As a result, the prices of crude oil and gold may increase further.
