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Gold prices shot higher by over 1% in risk-off start to the week

9 monthes ago   |   By FXCM

Gold spikes to $1,506 from $1,488.75 the low on Saudi Arabia headlines.
6% of world oil supply cut off following the attack on Saudi Arabia's oil and gas facilities.
Gold prices have shot higher in the open this week due to the increased tensions in the Middle East following the attack on Saudi Arabia's oil and gas facilities in Abqaiq which has suspended half of the kingdom's processing, corresponding to 6% of world supply. Gold jumped 1.2% in the open, travelling to a high of $1,506 from $1,488.75 the low following a weekly decline of 1.1%. last week.
"Saudi Arabia's oil production was...
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Attack that wiped out half of Saudi Arabia's oil production came from Iran, US official says

Attack that wiped out half of Saudi Arabia's oil production came from Iran, US official says

9 monthes ago   |   By Business Insider

The attack on two major Saudi oil facilities that knocked out half of the country's oil production appears to have come from Iran instead of the Yemeni Houthi group that claimed it, a senior US official told Reuters.
The unnamed official said there were 19 points of impact in the attack on Saudi facilities. The damage signaled the attack came from the direction of Iraq and Iran and not south from Yemen.
Authorities in Tehran denied the accusation as Saudi officials believe cruise missiles were used in the attack, casting doubt on rebel claims that they used drones to wipe out the...
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Attack on Saudi Arabia's oil and gas facilities, US to marshal a global response -BBG

9 monthes ago   |   By FXCM

An attack on Saudi Arabia's oil and gas facilities in Abqaiq.
Responsibility for the attacks has been claimed by the Houthi rebels in Yemen.
Weekend events were centred around the energy market following an attack on Saudi Arabia's oil and gas facilities in Abqaiq.
Bloomberg news writes that the responsibility for the attacks has been claimed by the Houthi rebels in Yemen, who say they used a swarm of drones to inflict great damage, "which has suspended half of the kingdom's processing, corresponding to 6% of world supply, is a blow to one of the main arteries of the global economy. The...
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