Gold update – higher after the Hamas weekend attack on Israel

<p>ICYMI:</p><ul><li><a href="https://www.forexlive.com/news/as-the-scope-of-hamas-attacks-come-into-view-the-middle-east-future-grows-murky-20231008/" target="_self">As the scope of Hamas attacks come into view, the Middle East future grows murky</a></li></ul><p>More:</p><ul><li><a href="https://www.forexlive.com/news/monday-morning-open-levels-indicative-forex-prices-9-october-2023-usd-higher-20231008/" target="_self">Monday morning open levels – indicative forex prices – 9 October 2023 – USD higher</a></li><li><a href="https://www.forexlive.com/news/airlines-cancel-flights-into-tel-aviv-isreal-after-hamas-murderous-attacks-on-civilians-20231008/" target="_self">Airlines cancel flights into Tel Aviv, Isreal after Hamas murderous attacks on civilians</a></li><li><a href="https://www.forexlive.com/news/wall-street-journal-reports-that-iran-helped-plot-the-attack-on-israel-20231008/" target="_self">Wall Street Journal reports that Iran helped plot the attack on Israel</a></li></ul><ul><li><a href="https://www.forexlive.com/news/us-markets-open-globex-sunday-evening-trade-sp-nasdaq-down-oil-up-20231008/" target="_self">US markets open (Globex Sunday evening trade): S&amp;P, NASDAQ down, oil up</a></li></ul><p>Oil is up on supply concerns (there are market dynamics playing out also of course, part of the reason for the jump in price is short covering and longs either holding (not selling) or more longs getting in looking for further price gains).</p><p>Gold is up in response to geopolitical turmoil. Update:</p><p>In the hours just passed the FX market played the role of shock absorber. Flows were into the USD and, to a lesser extent yen (<a href="https://www.forexlive.com/news/monday-morning-open-levels-indicative-forex-prices-9-october-2023-usd-higher-20231008/" target="_blank" rel="follow">here's why</a>). </p>

This article was written by Eamonn Sheridan at www.forexlive.com.