Gold Silver Reports ~ Stocks across the Middle East tumbled as the easing of sanctions against Iran raised the prospect of a surge in oil supplies to a market already reeling from the lowest prices in more than a decade. Shares in Tehran gained.
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Global Selloff, Crude Slip Nears $29
Gold Silver Reports ~ Stocks tumbled around the world, with U.S. equities sinking to their lowest levels since August, and bonds and gold jumped as oil’s plunge below $30 sent markets reeling. Treasuries extended gains as economic data and earnings added to concern that global growth is faltering.
Crude Slip Under $30 Barrel for the 1st Time in 12 Years
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.
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.