As the markets opened Friday spanning through to the London and Wall Street Sessions, Precious Metals were bullish and Base Metals got the bears. Gold was up by 0.28%, Silver was up by 0.54%, US Crude was down 0.34%, Brent Crude was down 0.39%.
Market Analysts blamed the geopolitical tensions as the reason Precious Metals (Safe Haven Assets) were in higher demand.
Meanwhile, Oil was said to be in demand due to speculation ahead of US Oil Inventory numbers from the EIA, as well as speculation that Saudi Arabia may pioneer extending OPEC’s Oil Cut Deal.
Market Analysts also blamed the plunge of Base Metals on profit-taking, as market players unwind bets because of all the geopolitical risks in past week.