Today is the second day of March and we are in the middle of the week. The week and month started with a lot of uncertainties. Main focus is still on the Russia - Ukraine conflict. Each passing day the casualties of both sides and total damages are increasing. Risky environment is pushing traders to safe haven assets. Gold, Silver, US Dollar Bonds are the major safe haven assets these days. Western countries have imposed the SWIFT sanctions on Russian Banks and this attempt has skyrocketed energy commodity prices. Today's Opec+ Meeting will be critical over Oil and Gas Prices. Let's look at the graphics.
As you can see above Crude Oil Prices have reached levels not seen since 2014. If Opec Countries take more responsibility and produce more, higher levels can be seen..
Gold is trying to break $1940 resistance once again but it is being rejected as some people evaluate Bitcoin as Digital Gold. Still it is covering the losses of 2021.
As the tension is rising more European companies are getting a hit and Germany’s DAX as well. Some factories in Europe stopped production as they have supply shortages sourced by Ukraine and Russian Companies.
Wheat Prices have reached all time highs. And this is not a good sign for low income countries. Just remember the Arab Spring started once Wheat prices have hit over $1000. These high prices end up with civil unrest in some countries.
As you can see the market is moving and prices are changing fast. If you have a good partner such as Gann Markets you can benefit from these price volatilities. Start trading today with more than 100+ Investment instruments.