Gold Silver Reports ~ Crude Oil dropped below $30 a barrel in New York for the first time in 12 years on concern that turmoil in China’s markets will curb fuel demand.
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Crude Oil Prices Are Tumbling
Gold Silver Reports ~ Crude oil is getting slammed on Monday, with front-month contracts for Brent and West Texas Intermediate each down more than 6 percent at their lows for the day.
Gold Likely to Drop Further
Gold is expected to drop further due to a combination of weakening investor demand for safe-haven assets amid a potential US-China trade deal, and the anticipation of delayed or fewer US interest rate cuts, which reduces the appeal of gold compared to interest-bearing assets. Analysts also point to factors like potential slowing central bank buying and a stronger US dollar as additional downward pressures.
Middle East Tensions, Support For Gold
Gold Silver Reports ~ The first week of the new year was an exceptionally volatile one with Crude Oil dropping to new 13-year lows as the oversupply worries continue to worsen. Precious Metals finally broke out of its month long trading range as rallied to $1100.0 whereas Silver largely remained in the same range.
Stocks Slip With Crude Oil
Gold Silver Reports ~ Stocks extended last week’s global rout, oil dropped and the South African rand led a slump in emerging-market currencies as China’s efforts to stabilize the yuan failed to halt losses in equities.
Gold Market As The Farmers Would Produce Less Output
Gold Silver Reports ~ As the winter is unlikely to bring bright prospects for India’s rabi crops, it will dent the rural demand for gold also in this wedding season. Experts expect 10-15% dip in country’s gold purchaes this year as farmers are likely to reduce gold buying on account of poor kharif crops, the expected down in rabicrops and low commodity~prices.
Crash In Crude Oil Prices With A Crippling Impact
Gold Silver Reports ~ Crash in crude oil prices with a crippling impact on the economies of the Gulfnations would deal a severe blow to remittances to India, Pakistan and other Asian nations with a maximum possibleimpact on states like Kerala and Punjab.