Gold prices rose to $1,277.29 on Wednesday morning, their highest prices since November 10, as traders flocked to safe-haven investments on fear that rising tensions between the United States and Syria and North Korea could continue to shake markets. The rising price of gold indicates that the confidence surrounding Trump’s presidency may finally be waning. A meeting between U.S. President Donald Trump and NATO Secretary General Jens Stoltenberg on Wednesday is expected to cause additional market movements later today.

The yen also headed higher on Wednesday, hitting 109.47 against the dollar, while the euro hit its lowest point in five months against the yen, trading at 116.02 yen.Then euro is on track for 12 consecutive losses against the yen, a trend fueled predominantly by uncertainty in France as left-wing candidate Jean-Luc Melenchon raced ahead in the polls for the upcoming May election. 

Oil Prices Head Higher

Oil prices also went higher on Wednesday morning as reports surfaced that Saudi Arabia was pushing to extend OPEC’s production cuts beyond the first half of 2017.Though compliance by some member states has been low, Saudi Arabia has cut its own production by around 4.5 percent, setting the tone of commitment to reducing output despite the production increases by the U.S. Brent crude futures gained 17 cents per barrel on Wednesday morning to trade at $56.40 per barrel, a 0.3 percent gain. U.S. WTI crude futures also gained 0.3 percent to trade at $53.56 per barrel. Traders are now looking towards U.S. oil production data which will be released by the Energy Information Association later on Wednesday.