Oil whipsaw leaves gold investors in a tizzy
New York
OIL is making gold investors cross- eyed. Because gold traders often track the cost of oil, which can impact consumer costs and inflation, a whipsaw in crude futures is spurring the biggest price swings for bullion in almost nine months. Adding to the pain for gold investors is a dollar rally that's curbing demand for alternative assets.
While gold dropped to a four-year low last month as investors saw less need for a store of value, prices surged on Dec 1 by the most in 14 months when oil rebounded from a five-year low. Both commodities resumed declines yest…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Asia: Oil surges, equities sink as Iran blasts fan Middle East escalation fears
Gold set for fifth weekly gain as geopolitical risks buoy demand
Oil holds near 3-week low as US sanctions interrupt easing tensions
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
BP reshapes its leadership team as some executives leave
BHP to decide on future of nickel business by August, trims met coal estimates