FT: Oil and gold prices rise as investors react to violence
The surge in violence in Israel has pushed up the price of oil by more than 7 per cent from the previous session, to $40.25 a barrel after three days of fighting.
Gold prices also climbed more than 2 per cent as traders looked for safer investments amidst the global economic slowdown and political turmoil.
As a result the price of Gold reached $889.55 an ounce.
Meanwhile, in the currency markets, sterling fell to a fresh record low against the euro of 97.98p in today’s trading getting closer to parity.
