Iran retaliates! Us military base in Iraq hit by missile attack gold prices surged above 1610 oil prices jumped more than 4%

Financial markets went “crazy” in early Asian trading on Wednesday, spurred by the latest news from the Middle East. Iran’s Islamic revolutionary guard corps has confirmed that it has fired dozens of missiles at a US airbase in Iraq. The news sparked a sharp rise in risk aversion, sending spot gold up more than $30 to briefly break through $1,610 an ounce, while the safe-haven yen also surged to below the 108 marks. In addition, WTI oil prices surged more than 4 percent. For now, investors will remain focused on developments in the Middle East, and any negative news could spur further gains in gold and oil prices.

On the morning of January 8, local time, the US military in Iraq “Assad airbase” came under missile attack. The base is in western Iraq and is home to U.S. and coalition forces.

The Islamic revolutionary guard corps has confirmed that it fired dozens of missiles at a US airbase in Iraq, according to Iranian media.

The second wave of rocket attacks on the Assad airbase in Iraq has begun, the guardian quoted Iran’s Tasmin news agency as saying.

The Assad air base is Iraq’s second-largest and is located near the town of Baghdadi, about 110 kilometers west of Ramadi, the capital of Anbar province.

Assad airbase is by far the largest U.S. military base in Iraq and home to the multinational force of the international coalition against the extremist group Islamic State.

Iran said it had fired missiles at a US military base, the New York times said.

The French news agency said the attack was a “response” by pro-Iranian forces in Iraq to the killing of general Suleiman by us forces.

There were reports of American casualties after the Iranian attack. In addition, local media reported that Iraqi people had been wounded in the earlier Iranian attack, and there were reports that senior Iraqi officers had been killed.

Gold and oil prices rose sharply on news of a missile attack on a US military base in Iraq, while the yen also strengthened on foreign exchange markets.

Spot gold hit $1,600 an ounce for the first time since 2013. Spot gold hit as high as $1,611.20 an ounce, up more than $35 from session lows.

The dollar fell below the 108 marks to hit a low of 107.63, its lowest since October 10 last year.

WTI crude jumped more than 4 percent to a high of $65.65 a barrel, continuing to hit its highest level since April last year.

The nikkei 225 indexes fell below 23,000 for the first time since November 2019, down 2.4 percent on the day.

The latest White House statement says the United States is aware of reports of attacks on U.S. bases in Iraq and is closely monitoring the situation.

The White House has confirmed that US President Donald Trump has been briefed on the attack on the Assad airbase in Iraq and is monitoring the situation closely while urgently consulting with members of his national security team.

The Pentagon says Iran has fired more than a dozen ballistic missiles at the U.S. and allied forces in Iraq.

The Pentagon says Iran has struck two us targets in Iraq. The United States will take all necessary steps to protect personnel; The United States has begun a preliminary assessment of the damage caused by the attack.

“We will take all necessary steps to protect and defend U.S. personnel, partners and Allies in the region,” the Pentagon said.

Washington (Reuters) – The United States wants to ease tensions with Iran but is ready to fight a war, U.S. defense secretary David esper said Tuesday.

Qasim Suleiman, commander of Iran’s Quds force, and ABU Mehdi Mohandas, deputy commander of Iraq’s popular mobilization militia, were killed in a U.S. airstrike on Baghdad’s international airport on Jan. 3. The Pentagon says President trump has directed US airstrikes on two Iran-related targets in the Iraqi capital Baghdad.

US President Donald Trump admitted on January 3 that he ordered the airstrike against Iranian general Omar Suleiman because he was planning an “imminent and dangerous attack on the United States.”

Watch out for more Iranian counterattacks

Iran’s Islamic revolutionary guard Corps issued a statement saying the attack on the U.S. base was revenge for the death of the commander of the revolutionary guard’s Quds force, Omar Suleiman, in a U.S. airstrike.

Iran’s Islamic revolutionary guard corps has also urged the United States to withdraw from Iraq as soon as possible, or face more attacks. America’s Allies, such as Kuwait, Bahrain, Saudi Arabia, Jordan, and Israel, would also be in Iran’s crosshair.

Iran’s revolutionary guard also says Israel was complicit in the killing of Suleiman.

On January 7, Iran’s parliament approved a bill called harsh revenge, paving the way for further retaliation against the United States. The bill, which includes three emergency measures, is an amendment to a previous bill approved on April 23, 2019, designating the U.S. central command as a terrorist organization in retaliation for the U.S. designation of Iran’s Islamic revolutionary guard corps as a terrorist organization.

Ali Larijani, the speaker, told the meeting: “following the assassination of general Suleiman by the United States, we amended the previous act and declared that all members of the pentagon, including commanders, agents and those who killed Suleiman, would be considered terrorists. All Iranian people support resistance and retaliation.”

In April last year, U.S. President Donald Trump announced that Iran’s Islamic revolutionary guard corps was being designated a terrorist organization. Iran’s supreme security council declared the U.S. central command and its forces in West Asia a terrorist organization. That same month, Iran’s parliament passed a resolution formally designating the U.S. central command and its troops as “terrorist organizations.”

Ria Novosti news agency reported on January 7, Iran’s top military officers after Suleiman, were killed in a U.S. airstrike, secretary of Iran’s supreme national security council Ali shamkhani to Iranian media, Fars news agency said Tehran is ready to 13 kinds of revenge plan in the United States, even if the scheme of the weakest also enough to become America’s “historic nightmare”.

On the evening of January 5, local time, Iranian state television reported that Iran announced that it would no longer abide by any of the restrictions of the 2015 nuclear agreement. Iran dropped the last restriction, the “centrifuge limit,” in the fifth phase of its suspension of the nuclear deal. Iranian state television quoted a statement from President Hassan rouhani’s government as saying Iran will not place any restrictions on its stockpile of enriched uranium or on nuclear-related research and development.

A statement from Iran’s supreme national security council said Iran would completely lift “any restrictions” on uranium enrichment. This means that Iran will unilaterally and completely abandon any obligations under the nuclear agreement.

Iran’s supreme leader, Ayatollah Ali Khamenei, has ordered that retaliation for the killing of Suleiman be carried out openly by the Iranian military, not by proxy.

The New York Times ran the story on its front page. In a tense moment after the U.S. killing of Iran’s top military commander, Ayatollah Ali Khamenei, Iran’s supreme leader, made a rare appearance at the government’s National Security Council meeting to set the terms for any retaliation, reports said. It was the first time Khamenei has attended a meeting of the supreme national security council.

The “bombshell” announcement was made by the New York Times, citing three Iranian sources familiar with the meeting. Khamenei told the meeting that retaliation must be a “direct and proportional attack” on U.S. interests and must be carried out openly by Iranian forces, the New York Times reported, citing the sources.

The New York Times reported in a commentary that it was “shocking” that Khamenei’s call for Iran’s military to retaliate publicly ran counter to Iran’s usual “proxy” tactics.

Reports suggest this is a stunning shift for Iran’s leadership. Since the establishment of the Islamic republic in 1979, Tehran has almost always hidden its attacks behind the actions of its cultivated proxies around the region. But in the furor over the killing of major general Suleiman, a close ally and personal friend of the supreme leader and a military commander, Mr. Khamenei was willing to abandon those traditional warnings.

Notably, Iran has begun to hang red flags on its mosques, which in the Shiite tradition of Iran symbolize bloody revenge. For the first time in history, the red flag was unfurled over the holy dome of the Qom ‘jamkalan mosque in Iran.

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