Close Alert

Middle East Getting Worse

News overnight of Israeli attacks on Iran's gas infrastructure, followed by Iran's reprisal attacks on Gas infrastructure in Qatar and Kuwait, has led to a 25% jump in gas prices in Europe.

It will take time to repair these facilities; even if the war ends soon, the worst-case scenario of a protracted war gets more likely by the day. The impact on consumer spending and confidence could be almost immediate and is not helped by the current pullback in Gold, with people seeing all areas of their wealth portfolio suffer.

I will execute the exit orders highlighted in yesterday’s post on the likely consequences of the war.

I still intend to take two trades this month, but am acting with an abundance of caution.

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