Stocks down, gold up as investors embrace safe havens after Russia mutiny

📆 6/26/2023 8:30 AM
📰 ReutersAfrica

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Global shares fell while gold rose after an aborted uprising by Russian mercenaries raised questions about the strength of President Vladimir Putin's grip on power, leaving investors little option but to focus on the broader macroeconomic picture.

Gold , often perceived as a safe haven in times of geopolitical or market turmoil, rose 0.6% to $1,932 an ounce.dropped by as much as 3% to a 15-month low earlier in Moscow.on Saturday, seizing the southern city of Rostov and advancing on Moscow demanding the removal of Russian military commanders in charge of the war in Ukraine.

With little in the way of concrete cues for markets, investors stuck to their recent playbook of favouring fixed income and other safe havens over equities, particularly in light of Friday's slew of weak business activity surveys.

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Oil firm, stocks wobbly after short-lived Russian mutinyOil was slightly higher on Monday as an abortive weekend mutiny by Russian mercenaries raised questions about crude supply, while stocks lacked direction as investors waited for more clarity around the situation.
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