The risk of miscalculation in the Middle East is high. Oil and gold can help hedge investors' portfolios.
As tensions escalate in the Middle East , investors should consider adding gold and oil as a hedge. "A wider regional war could affect oil supplies, which would likely lead to quick price spikes. Gold, meanwhile, should serve its role as a more conservative asset," UBS analysts led by Tilmann Kolb told clients in a Wednesday note. Israel and Iran appear on the verge of a direct conflict after the assassination of Hamas political leader Ismail Haniyeh in Tehran this week.
Days prior, a rocket launched from Lebanon killed 12 children in the Israeli-occupied Golan Heights. Israel blamed Iran-backed Hezbollah and launched a strike in Beirut that killed one of the militia's senior commanders, Fuad Shukr. "We do not believe anyone has a clear interest at the moment to broaden the war, but the risk of any retaliation or miscalculations triggering a wider military conflict is high," the UBS analysts wrote.
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