So-called havens including gold and the U.S. dollar rallied on Monday as Israel retaliated following Hamas’s bloody invasion of southern Israel over the weekend.
“Gold took the lead as investors flocked to safety,” said Raffi Boyadjian, lead investment analyst at XM, in emailed commentary. Trading in U.S. Treasurys was closed for the Columbus Day and Indigenous Peoples Day holiday on Monday. While the U.S. bond market is closed on Monday, analysts said they would be watching the iShares 20 Plus Year Treasury Bond ETF TLT for signs of safety flows into U.S. government bonds, which could ultimately bring down bond yields and alleviate some of the pressure on stocks.
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