Tensions in Iran and USA affects global economy

Colombo (News 1st): The growing tensions between Iran and the United States of America has affected the global economy as well. Gold prices in Dubai jumped amid high tensions in the Middle East following the U.S. killing of a top Iranian commander. The 22K gold price in Dubai jumped to about 47.65 U.S. dollars per gram, hitting a new high since January 2018. Oil prices in the world market have risen after two bases hosting US troops in Iraq were hit by ballistic missiles. Brent crude was up by 1.4% at $70 per barrel in the middle of the Asian trade, easing back from earlier gains. OPEC’s Secretary-General Mohammed Barkindo said that oil facilities in Iraq, the second-biggest producer in OPEC, were secured and output was continuing. He added “OPEC alone can’t shoulder that responsibility. We invite the United States to join us in this noble objective,”