LONDON: Rising tensions between the United States and Iran dampened the mood in equity markets on Tuesday as investors turned to safe havens such as the yen, bonds and gold, with the latter striking a near six-year high.
"Geopolitical tensions weighed on the markets on Tuesday after the US imposed new sanctions on Iran," said Russ Mould, investment director at AJ Bell."Investors switching their attention once again to gold as a safe-haven asset." Meanwhile the return on 10-year German government bonds - the European benchmark - hit a record low of -0.34 per cent as investors were happy to pay more and more for the safety that comes with high-quality bonds.The latest round of US sanctions against Iran's supreme leader Ayatollah Ali Khamenei and military top brass meant the"permanent closure of the path to diplomacy" with Washington, the Islamic republic's foreign ministry said.
The call took place"at the request of the US side" and they agreed to maintain contact, the Xinhua news agency said.
Source: Financial Digest (financialdigest.net)
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