Impact of renewed fighting between US & Iran

The recent failed talks between the United States (US) and Iran have rattled the markets, following the recent outbreak of hostilities between the two countries over the Strait of Hormuz.

Market analysts say the renewed conflict will see oil prices going up, gold becoming unaffordable while the Rand weakens.

On the opening of the markets this morning, brent crude oil rose by four percent to 79-dollars-twelve-cents a barrel from 76-dollars-24-cents a barrel at the close of the local market on Friday.

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