The investment community seems to be underestimating the potential fallout from rising tensions between the United States and Iran, CNBC’s Jim Cramer warned.
“When I see this endless buying for gold it makes me think for the first time people are just saying, ‘I’m really fearful,’” Cramer said.
Ahead of Monday’s open on Wall Street, Cramer asked, “Why aren’t the futures down more? They should be.”
Indonesia will build a new capital city on the island of Borneo, home to some of the world’s biggest coal reserves and orangutan habitats, as President Joko Widodo seeks to ease pressure on congested and sinking Jakarta.
The new administrative headquarters will be located between North Penajam Paser and Kutai Kartanegara in East Kalimantan, Jokowi, as the president is commonly known, told reporters in Jakarta on Monday. The relocation of the capital, some 1,400 kilometers away from Jakarta, will help spread economic activity outside the nation’s most-populous island of Java, the president said.
Read MoreGold fell on Monday, moving further off the key $1,300-per-ounce mark it briefly surpassed in the previous session, as global equities rallied following last week's slide with stronger-than-expected U.S. retail sales allaying some fears of an economic slowdown.
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