
Gunmen from the Palestinian group Hamas entered Israel in an unprecedented attack on Saturday as Western countries, led by the United States, condemned the attack and pledged support for Israel.
The increase in geopolitical risk has led to mass purchases of gold and the US dollar, but also of oil, the production of which was questioned after the start of tensions in the region.
"This is a good example of why people need gold in such cases. It's a perfect hedge against international turmoil,” said Peter Cardillo, chief economist at Spartan Capital Securities. "Whenever there is international turmoil, the dollar strengthens," he said.
The price of oil rose more than 4 dollars per barrel when the market opened in Asia a few hours ago, while there has not yet been an official reaction from Saudi Arabia, as one of the main producers, regarding the conflict.