Gold and oil take centre stage as geopolitics rise to the fore

Commodities took centre stage as geopolitics rose to the fore. The fallout from the surprise attack on Israel by the terrorist organisation Hamas on October 7th, has reverberated across financial markets. Equities and bonds sold off sharply by 5.3% and 3.2% respectively, in comparison broad commodities fell by 1.1% over the prior month. Commodities being a diverse bunch have continued to show their divergence in performance. Oil and gold prices continue to be dominated by the Middle East conflict. The conflict is the most severe in decades and the risk of regional escalation cannot be ruled out.

Historical performance is not an indication of future results and any investments may go down in value.

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