Israel fired missiles towards Iran last Friday, June 15, which targeted both nuclear and military sites overnight. In retaliation, Iran has done the same by firing two separate salvoes of missiles and drones against Israel. While on the diplomacy side, both sides are unwavering in defending their countries until a deal has been struck. With the US tagging along in the conversation, it has been more chaotic since then with US President Trump also adding Russian President Vladimir Putin as a possible mediator.<\/p>\n\n\n\n
The war adds fuel to the safe-haven bid<\/strong><\/p>\n\n\n\n Daniel Pavilonis, senior market strategist at RJO Futures said that “Israel knocking out Iranian targets is causing a little bit of geopolitical scare in the market. Prices will stay elevated in the anticipation of what is to come, the retaliation by Iran.” <\/p>\n\n\n\n Stock Recommendations<\/strong><\/p>\n\n\n\n Coincidentally, the PH mining companies that mine gold (PX, OGP, and APX) gapped up at the open as Israel\u2019s BUY: Philex Mining Corporation (PX) \u2013 Target Price: P8.79
attacks started before the market open. Furthermore, these stocks have held strongly at their respective support levels. If the war drags on for longer and more countries try to get involved, these stocks may soon breakout as they are also reaching their resistance levels.<\/p>\n\n\n\n
BUY: Oceana Gold Philippines, Inc. (OGP) \u2013 Target Price: P19.00
HOLD: Apex Mining Co., Inc. (APX) \u2013 Target Price: P6.75<\/strong><\/p>\n\n\n\n