Oil’s Pain Is Gold’s Gain as Nervous Traders Seek Safety

Gold MCX Trading ZoneGold Silver Reports — Oil’s plunge into a bear market is bolstering gold’s appeal as a haven as traders question the outlook for inflation and economic growth.

One ounce of gold buys 29 barrels of oil, the most since just before Donald Trump ascended to the U.S. presidency.

“This ratio on the highs may suggest nervousness in the financial markets about global economic prospects as the energy commodity drops compared with the safe-haven asset,” said Tai Wong, head of base and precious-metals trading at BMO Capital Markets.

Oil’s Pain Is Gold’s Gain as Nervous Traders Seek Safety | Neal Bhai Reports | Gold Silver Reports

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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