ASX 200 shocked and awed by Israel strike on Iran, gold and oil stocks firmer

The S&P/ASX 200 closed 74.8 points lower, down 0.98%.

Around midday, news broke that Israel had launched a missile strike on Iran. The benchmark S&P/ASX200 lost around 40 points in the next 20 minutes, dipping below 7,500 for the first time since 14 February.

But, as stocks tend to do after the initial shock of an announcement of conflict, they steadily rallied all the way into the close.

Still, the end result for the week was ugly – 221 points sliced off the S&P/ASX200, or -2.9%.

Winners today were few and far between, but were concentrated in the Gold sector as investors diverted more capital to risk-averse assets like Gold.

Losers were plentiful, and were concentrated in the Technology, Financials and Resources sectors.

Let's dive in!

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