Middle East tensions escalated. And they could come mightily close to taking the lift. Earlier in the session, Twitter streams were jammed of reports of missiles being fired at US airbases from multiple unverified ‘sources’. Not that it needed to be verified, as gold was already beginning to rally with crude oil, whilst US futures turned lower and the Swiss franc and Japanese yen assumed their usual role of safe-haven currencies. However, once the initial tweets were verified by official sources – it became a case of buy the rumour, buy the fact. At their daily extremes, markets reacted as so: Gold: 7-year high ... (full story)