Weekly market commentary - 13 October 2023

This week began with news of war between Israel and Gaza following the terror attacks by Hamas last weekend.

The outbreak of fighting initially pushed up the price of oil and gas, and contributed to the rise in haven assets like gold, the US dollar and US government bonds at the start of the week. However, investor sentiment appears to have calmed and oil and the US dollar fell later in the week. The potential for the conflict to expand and draw in other countries means there is still some uncertainty in markets and as gold and US Treasuries have held on to their gains.

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