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\n\t\t\t\t<\/p>\n\n\t\t\t\tThe Iran conflict impacting the global economy\t\t\t<\/h2>\n<\/p><\/div>\n On Saturday, the U.S. and Israel launched strikes on Iran and sparked a new conflict in the already tense and volatile Middle East region.<\/p>\n
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Concerns about how long this conflict could go on and if things will escalate are potential reasons investing experts say the U.S. dollar is getting more appealing right now.<\/p>\n
\u201cWhen the world gets really, really, really, really scary, USD [U.S. dollar] seems to carry the day, right? And that for no other reason than it\u2019s the USD,\u201d says White.<\/p>\n
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\n\t\t\tMore on Money<\/button>More videos<\/button>\n\t\t<\/p>\n<\/p><\/div>\n\u201cThe whole world trades based on confidence, right? So money flows where there\u2019s confidence. And when there\u2019s no other place you can get any confidence, the global vote is USD, and I think that that\u2019s playing out again this time.\u201d<\/p>\n
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This means the U.S. dollar may currently be considered a stronger asset than gold, and reflective of investors\u2019 confidence in the U.S. amid the Iran conflict.<\/p>\n
At the same time, stock markets like Wall Street sold off at the start of trading on Tuesday.<\/p>\n
Iran launched counterstrikes on U.S. military infrastructure, embassies in allied nations like Saudi Arabia, and nearby oil and gas facilities.<\/p>\n
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Iran also effectively closed the Strait of Hormuz, a vital shipping route that sees a fifth of the world\u2019s oil, by threatening any ships that try to pass through the area.<\/p>\n
This is jeopardizing the world\u2019s oil supply the longer the conflict goes on, and when there\u2019s less oil available, the price goes up.<\/p>\n
U.S. President Donald Trump said Monday that the conflict could last four to five weeks or more.<\/p>\n
A barrel of crude oil was hovering around $74 as of publication, and that\u2019s up almost 20 per cent from less than $64 last Thursday.<\/p>\n
Although a stronger U.S. dollar may lead to lower oil prices, these supply concerns are offsetting any of those potential discounts.<\/p>\n
Then there\u2019s the risk of inflation that higher oil prices bring.<\/p>\n\n\n\t\tTrending Now<\/span>\n\t<\/p>\n\n\n\n\t\t\t\t\t\t
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<\/p>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t4:24<\/time>Business News: A renewed gold rush & affordability<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t<\/span>
Prices for goods and services increase with time, known as inflation.<\/p>\n
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But the rate that prices increase may be about to speed up as a knock-on effect of the Iran conflict, experts say.<\/p>\n
Higher oil prices typically lead to more expensive gasoline, including for cars, trucks, cargo ships, planes and other forms of transportation.<\/p>\n
Businesses will usually pass these higher costs onto consumers, which drives up inflation.<\/p>\n
\u201cIt is certainly impactful to what you\u2019re going to be paying at the grocery store, when you go to the mall, the retail outlets, much of the economy survives on diesel, and diesel fuel prices are certainly jumping much more considerably,\u201d says Patrick De Haan, a petroleum analyst with GasBuddy.<\/p>\n
\u201cSo while inflation has come a long way, the attacks on Iran also begin the wheels of inflation again as energy prices start to jump in response.\u201d<\/p>\n
A risk of higher inflation is also a reason why gold prices are falling.<\/p>\n
If inflation spikes, particularly in the U.S., then there is more of a chance central banks like the U.S. Federal Reserve will be forced to raise interest rates to prevent prices from getting too high.<\/p>\n
But this means the U.S. dollar will also go up because higher borrowing costs tends to attract more foreign investment and increase the value of the local currency.<\/p>\n
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This is why gold prices are falling right now \u2014 expectations of higher interest rates in the U.S. tied to inflation risk from rising oil prices as the Iran conflict sparks concerns that supplies could run out soon.<\/p>\n
\u201cPeople are trying to find a direction and there\u2019s a lot of uncertainty and markets hate uncertainty,\u201d says White.<\/p>\n
\u201cThere\u2019s different parts of the market where things are really optimistic going into this. Other places where people were pessimistic going into this. And so that\u2019s all playing into changing those perceptions and expectations right now. And it\u2019s happening in real time and it\u2019s scary and people make different decisions when they\u2019re scared.\u201d<\/p>\n<\/p><\/div>\n
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#Gold #soars #crises #time #whats #National<\/p>\n","protected":false},"excerpt":{"rendered":"
The Iran war continues to roil global markets, but gold isn\u2019t shining so brightly right now even though many have long considered it a safe haven during a crisis. Gold prices fell about four per cent on Tuesday to roughly $5,124 an ounce as of publication, and some experts say this dip is because of […]<\/p>\n","protected":false},"author":1,"featured_media":3936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[16,3887,39,1121,613,17,50,3573,653,382,3888,135],"class_list":{"0":"post-3935","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-politics","8":"tag-consumer","9":"tag-crises","10":"tag-economy","11":"tag-gold","12":"tag-iran","13":"tag-money","14":"tag-national","15":"tag-soars","16":"tag-stock-markets","17":"tag-time","18":"tag-whats","19":"tag-world"},"_links":{"self":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/3935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3935"}],"version-history":[{"count":0,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/3935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/media\/3936"}],"wp:attachment":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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