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Treasuries, gold prices rise, stocks fall on Mideast fears

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Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.

NEW YORK, Oct 13 - U.S. Treasuries and gold prices rose while global stock indexes fell on Friday on safe-haven buying driven by the escalating Middle East conflict as Israel urged civilians to leave the northern Gaza Strip.

"It's going to be a risk-off day ... as investors basically buy safety assets," said Tom di Galoma, managing director and co-head of global rates trading at BTIG in New York.Spot gold added 2.8% to $1,921.59 an ounce. The pan-European STOXX 600 index lost 0.97% and MSCI's gauge of stocks across the globe shed 0.67%.

The dollar index , which measures the greenback against six of its major peers, ticked up 0.2% to 106.7. The index, which jumped 0.8% on Thursday, its biggest one-day rise since March 15, is on pace to finish the week higher.U.S. crude recently rose 4.19% to $86.38 per barrel and Brent was at $89.48, up 4.05% on the day.

 

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