Gold jumps to one-month high after attacks

Gold jumped the most in almost a month and the yen strengthened as France bombed Islamic State positions in Syria in response to terrorist attacks in Paris. European stocks and American equities futures were little changed. Gains in commodities prices offset a decline among travel and leisure companies as stocks in Europe fluctuated. US futures were little changed after a report showed manufacturing in the New York region contracted more than analysts estimated. West Texas Intermediate crude erased a gain, while silver ended a run of 12 straight declines. The euro weakened and Treasuries advanced.

"Though everyone is obviously very downbeat today, market reactions have been fairly moderate," said Teis Knuthsen, chief investment officer at Saxo Bank A/S's private-banking unit in Hellerup, Denmark. "You'd expect oil to tick up a bit and travel and tourism shares to sell off. But the real question for investors after these geopolitical shocks is whether they will have a meaningful impact on a country's economic performance."
 
Gold climbed for the first time in five days as the attacks in Paris on Friday reinvigorated its traditional role as a haven. European shares erased early losses as investors assessed the impact the attacks will have on the region's economy. The history of terror incidents around the world over the last 15 years shows market reactions are often sharp and, increasingly, short-lived.