Daily Briefing: Iran tensions ignite oil and gold

Daily Briefing: - Huge crowds in Iran for commander's funeral - Iraq wants foreign troops out after air strike - Oil prices and gold surge on U.S.-Iran tensions

Many market players are looking to the impact of the attacks on Saudi oil facilities by Iran-backed militias in September for a reference and the speed with which markets unwound those safety plays is an important initial influence on trading behaviour.

The effect on world stock markets continues to be negative but is also seen in the light of a record-breaking surge in global equity over the yearend holiday period. Hong Kong and Seoul benchmarks lost almost 1% each. MSCI’s all-country world index fell about 0.25% and is now down about 0.8% from the all-time high it set just before the news of the killing early on Friday.

MSCI’s emerging market currency index dropped to its lowest since before the Christmas break. Regional Gulf stocks fell sharply on Sunday, with Saudi, Kuwaiti and Dubai stocks dropping between 2% and 4%, and shares of oil giant

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