Israel-Hamas War, Day 17: IDF Intensifies Gaza Strikes, US Works To Delay Ground Invasion For Hostage Release
Portfolio Pulse from Piero Cingari
The ongoing conflict between Israel and Hamas has led to a stabilization of the Israeli shekel after 10 consecutive sessions of losses, and a 14% drop in the iShares MSCI Israel ETF (EIS) since the conflict began. The SPDR Gold Trust (GLD) held steady at $1,980 per ounce despite another round of selloffs in U.S. Treasuries.
October 23, 2023 | 12:57 pm
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NEUTRAL IMPACT
Despite the ongoing conflict and selloffs in U.S. Treasuries, the SPDR Gold Trust (GLD) has held steady at $1,980 per ounce.
Gold is often seen as a safe haven asset during times of geopolitical instability, which may explain why the price has remained steady despite the ongoing conflict.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares MSCI Israel ETF (EIS) has recorded a 14% drop since the start of the Israel-Hamas conflict.
The ongoing conflict has created uncertainty and instability in the region, leading to a drop in the value of the ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100