Stocks wipe out new year gains as gold, oil soar on global woes
Gulf Today - Tensions erased new year’s gains for world stocks on Monday as investors pushed safe-haven gold to a seven-year high and oil jumped to its highest since September.
Spot gold gained 1.8% to $1,579.72 per ounce to reach its highest since April 2013. Oil prices extended gains. Brent crude futures jumped past the $70 a barrel mark, while US crude climbed 1.7% to $64.12.