Will geopolitical risks continue to support gold in the coming period?

Global turmoil and geopolitical risks continue to dominate the global economy, escape equity investment and increase demand for safe havens and low-yielding assets in the long run. The most recent global development was Iran's attack on American military facilities in Iraq to respond to the killing of the Iranian leader Soleimani while markets awaited within hours of Trump's talk about all attacks to keep the markets confused about the next step for the United States.
Of course, when we talk about tense global conditions and heading to safe havens, we find that the most prominent of them is gold, which has benefited a lot since the beginning of the year due to the high risk aversion, to penetrate yesterday's levels of $ 1,600 an ounce, which he did not reach in more than six years to jump by more than 2% since the morning Wednesday to 1610. But gold soon gave up some of its gains after the Iranian foreign minister confirmed that the country is not seeking war, although it will defend against any other aggression. In the short term, gold may retreat slightly until Trump's speech before it starts rising again towards $ 1650 an ounce.
As for oil prices, they rose strongly to their highest levels since April after the Iranian response and the possibility of oil production being affected in the coming period before the UAE Energy Minister Suhail Al Mazroui overlooks us and confirms that the current conditions do not call for an OPEC + meeting, so that the prices will fall again to 62.70 dollars per barrel. However, our positive expectations remain valid for oil prices in the coming period, unless the price closes below the support range of $ 62.00 / 20 per barrel.
The US dollar witnessed some increase during yesterday's trading after the American manufacturing sector issued by ISM succeeded in recording the fastest pace of growth since last August, in a sign of the recovery of the American economy and may become the strongest global economies at a time when other advanced economies suffer from a strong growth slowdown.
The market is awaiting hours of private sector employment change data ADP, which could add 160 thousand jobs compared to 67 thousand previously. In the event that the data is better than expected, the US dollar will become the black horse that will accelerate to the level of 97.00.
Despite the risks to the global economy, Apple shares continue to rise to new highs at $ 300.88 to continue our positive outlook for the price with anticipation for the fourth quarter of the past year.