Saudi Defence Ministry reported two ballistic missiles were launched towards Riyadh, while one was intercepted and the other landed in an uninhabited area

This incident underscores escalating tensions in the region, particularly involving Iran and Saudi Arabia, and may provoke heightened risk aversion among investors. Although the missile landed in an uninhabited area, any increase in hostilities could impact oil prices, potentially boosting crude while simultaneously strengthening safe havens like gold. Monitoring how this develops will be crucial for assessing its broader implications on currency and commodity markets.