Weekly Market Pulse: The Uncertainty Of Uncertainty

2025-06-16 04:28:00 ET

Oil jumped 7.5% last Friday in the wake of the Israeli attack on Iran, but the reaction in most other markets was surprisingly muted. The dollar, which normally catches a bid in these situations, was up just 0.27% and US Treasuries actually sold off on the news. Gold was the preferred safe haven this time, up 1.4% on the week. Year to date, gold is up 30.8%, and it isn’t even the best performing precious metal. That would be platinum, up 35.2% on the year, although gold is up nearly 50% in the last year. Silver has also gotten into the act this year, up 25.7%. The dollar, on the other hand, is down 9.5% YTD and 6.7% over the last year, and even geopolitical turmoil couldn’t change that trend....

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