Iran launched missile strikes late Tuesday against two Iraqi military bases housing U.S. forces in retaliation for the airstrike that killed Iranian General Qassem Soleimani last week. More than a dozen ballistic missiles targeted the Al Asad and Erbil military bases, the Pentagon said, and U.S. officials were assessing the damage.
It was still unclear early Wednesday morning whether there were any casualties, but in a tweet Tuesday night President Trump said: "All is well! Missiles launched from Iran at two military bases located in Iraq. Assessment of casualties & damages taking place now. So far, so good! We have the most powerful and well equipped military anywhere in the world, by far! I will be making a statement tomorrow morning."
Iranian Foreign Minister Javad Zarif defended Iran's attack, tweeting that Tehran "took & concluded proportionate measures in self-defense." He added that "we do not seek escalation or war, but will defend ourselves against any aggression."
The Al Asad air base houses about 1,500 U.S. and coalition forces. The base was already on high-alert and recently paused its operations against ISIS to shift resources to prepare for a possible revenge attack by Iran.
On the news of missile launch the spot price of gold jumped by 2.4% to $1610.9 per troy ounce, but by the beginning of the U.S. trading session it returned to $1575 per troy ounce.
Oil also reacted with a strong growth. WTI futures overnight set a local high at $65.65 a barrel. During the European session there was a consolidation, the price of WTI fell below $62.