Global Stocks Fall, Bonds and Gold Rise After “Terrorist Attacks” In Brussels
By: Mark O’Byrne, GoldCore
GoldSeek.com
Tuesday, 22 March 2016
Safe haven assets, gold and German bonds rose, while European stocks and global stock futures fell, after explosions rocked a Brussels airport departure hall and a subway station near a number of important EU institutions. At least 26 people are reported to have been killed after the explosions which the Belgian prosecutor has alleged are “terrorist attacks.”
Gold in dollar terms rose 0.8% but the gains were greater in euro and sterling terms. Gold in euros terms rose from €1,108/oz to €1,123/oz or 1.3% and gold in sterling rose from £865/oz to £881.50/oz or nearly 2%. Silver also saw a safe haven bid and moved higher with gold to reach $16.oo/oz again.
The German DAX fell by nearly 1% and the Stoxx Europe 600 Index fell the most in a week as the attacks caused deaths and injuries and spurred fears of imminent follow-up attacks in the capital of the European Union and internationally.
Travel and leisure shares including airlines and hotels led the slide and futures on the Standard & Poor’s 500 Index also declined. Global stock markets fell from multi-week, month and annual highs as reports on the scale of the carnage in the Belgian capital unfolded.
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