Gold Hits Record, Oil Rises on Mideast Tension – Asia Market Wrap

As tensions in the Middle East flared up again, gold reached a new high and oil prices continued advances.

Markets are processing a slew of news, ranging from US inflation statistics to the upcoming start of earnings season for American firms. Furthermore, in retaliation to last week’s fatal attack on its diplomatic post in Syria, Iran may be on the verge of initiating missile or drone strikes against Israeli targets.

The 10-year Treasury yield decreased nearly three basis points Friday after increasing approximately 22 basis points over the previous two days. Data released Thursday revealed that US producer prices rose less than expected in March, after earlier this week’s hotter-than-expected consumer-price increases.