New Zealand, a land of diversity and compasion, faces its worst day and this pushed investors to seek safety
The terrorist attacks over in New Zealand has stunned the markets. New Zealand is a peaceful county, we do not usually hear about hate crime and this is where the danger is. This is because if these hate centric attacks can take place in a country which has a population of 5 million, the impact on the markets could be catastrophic if it occurs in a far bigger country. Thus, there is a strong need for appropriate actions to be taken in order to stop these violent attempts.
New Zealand’s Prime minister has stood against this, and we need a united front from other world leaders to restore confidence. This is the area which needs the most amount of attention, breaking the walls of hate can only put an end to these types of violence.
As a result of the above, investors are seeking shelter under safe haven assets. The NZD/USD has fallen sharply. The gold price has spiked. It is well above from its weekly low of 1290, currently trading at $1303.