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Oil, gold, and bitcoin are jumping on Iran tensions before Trump reveals ‘major’ sanctions, while stocks are mixed
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Oil, gold, and bitcoin are jumping on Iran tensions before Trump reveals ‘major’ sanctions, while stocks are mixed

Oil, gold, and bitcoin jumped on Monday ahead of President Trump’s reveal of “major” sanctions on Iran, as traders parked their cash in commodities and cryptocurrencies in the face of rising geopolitical tensions.

“We are putting major additional sanctions on Iran on Monday,” President Trump tweeted on Saturday. The US has accused the Middle Eastern nation of attacking two tankers in the Gulf of Oman and shooting down an unmanned US drone over international waters in the past two weeks, and reportedly launched a cyberattack against and Iranian spy group despite Trump canceling a missile strike on Thursday.”Expect lots of turbulence from this, but ultimately it does not look like the White House is spoiling for a fight,” said Neil Wilson, chief market analyst for Markets.com.

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