📈 Gold & Oil Prices Surge as U.S. Pulls Personnel from Middle East

Markets are reacting sharply after President Donald Trump ordered the partial withdrawal of American personnel from the Middle East, citing rising tensions and security threats, especially concerning Iran.

🛢️ Oil Hits 2-Month Highs

Brent crude climbed to $69.92/barrel, and WTI rose to $68.37/barrel early Thursday, extending Wednesday’s 4% surge. The rally follows reports that U.S. embassies and military outposts in the region are scaling back operations due to escalating risks.

With Iraq and Iran in focus, fears of supply disruptions have reignited. Iran’s defense minister warned of retaliatory strikes on U.S. bases if nuclear talks collapse. Given Iraq’s vital role in global supply as OPEC’s #2 producer, traders are bracing for potential shockwaves.

🪙 Gold Rises Amid Safe-Haven Rush

Gold jumped 0.6% to $3,373/oz, building on previous gains as geopolitical and trade tensions continue to unsettle markets. Investors are seeking refuge in precious metals amid concerns over a new Iran crisis and looming tariff moves.

President Trump also announced he would notify global trading partners of new tariff rates within two weeks, ahead of a July 9 deadline. Despite progress on a U.S.-China deal, uncertainty remains high.

📊 Year-to-Date Gold Surge: +28%

Gold remains a key safe-haven asset, boosted by central bank buying and a weaker dollar. Other metals—silver, platinum, and palladium—also posted gains Thursday.

🧠 What It Means:

Energy traders are watching Iran, Iraq, and U.S. military movements closely.

Investors are shifting into safe assets like gold amid global volatility.

Markets may remain volatile as Washington balances diplomacy and defense.

🔔 Stay tuned for updates on Middle East developments and trade negotiations. #TrumpTariffs