Canadian dollar dips after US-Canada talks collapse into trade war; oil prices fall ahead of US sanctions on Iran - business live
Global markets are experiencing volatility as US-Canada trade tensions rise and oil prices fluctuate amid Iran sanctions. Investors are shifting toward gold and cryptocurrencies as safe-haven assets due to concerns over US Treasury bond interventions.
Why it matters
Market instability and shifts in asset preferences reflect broader geopolitical tensions and concerns over fiscal policy.
Sellers of gold are enjoying a rebound in price as the markets for government bonds, major currencies and global stocks show signs of creeping trepidation. It’s a trend that could signal a full-on panic, as the Guardian’s economics editor Heather Stewart wrote at the weekend .
Spot gold rose as high as $4,659 an ounce on Monday, the highest since mid-May – and heading back towards the peak it reached in the spring during the first weeks of the US attacks on Iran. Back then it jumped above $5,300 before dropping in fits and starts as Middle East tensions eased.
The return of sabre rattling this month by both sides in the war has spooked investors, who have sought refuge again in gold.
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