GOLD BULISH DUE TO UNCERNITY IN THE MIDDLE EAST AND EASTERN EURO
NEW YORK, Oct 13 (Reuters) - Oil, U.S. Treasuries and gold prices rose on Friday, with crude soaring nearly 6%, on safe-haven buying driven by the escalating Middle East conflict as Israel urged civilians to leave the northern Gaza Strip.
Brent crude surged 7.5% in the week since the conflict began, posting its highest weekly gain since February, as investors priced in a chance of escalation in the world's top oil producing region.
On Wall Street, the S&P 500 ended lower despite upbeat results from big U.S. banks on Friday, which marked the unofficial start of the third-quarter reporting period for S&P 500 companies.
Weak U.S. consumer data also weighed on stocks. U.S. consumer sentiment deteriorated in October, with households expecting higher inflation over the next year.
Shares of JPMorgan (JPM.N) were up 1.5% after it reported a 35% profit increase from the year-ago quarter.
The Israeli military called for civilians to leave Gaza City ahead of an anticipated ground invasion in response to devastating attacks by Hamas militants at the weekend.
The yield on 10-year Treasuries was last down 8.2 basis points at 4.629%.
Spot gold added 3.2% on the day to $1,928.99 an ounce, and had its biggest weekly percentage gain since March.
Brent crude surged 7.5% in the week since the conflict began, posting its highest weekly gain since February, as investors priced in a chance of escalation in the world's top oil producing region.
On Wall Street, the S&P 500 ended lower despite upbeat results from big U.S. banks on Friday, which marked the unofficial start of the third-quarter reporting period for S&P 500 companies.
Weak U.S. consumer data also weighed on stocks. U.S. consumer sentiment deteriorated in October, with households expecting higher inflation over the next year.
Shares of JPMorgan (JPM.N) were up 1.5% after it reported a 35% profit increase from the year-ago quarter.
The Israeli military called for civilians to leave Gaza City ahead of an anticipated ground invasion in response to devastating attacks by Hamas militants at the weekend.
The yield on 10-year Treasuries was last down 8.2 basis points at 4.629%.
Spot gold added 3.2% on the day to $1,928.99 an ounce, and had its biggest weekly percentage gain since March.
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