Gloria Mb 0 September 15, 2019 (edited) How will the recent drone attack at Dubai refinery affect gold price Edited September 15, 2019 by Gloria Mb Quote Share this post Link to post Share on other sites
DanilKa + 443 September 15, 2019 Attack is in Saudi, I.e. much higher severity of anything which may happen in UAE (just a scale of oil production). Depends how soon Aramco manage to restart. Seen chatter about “weeks” - in this case we are looking at substantially higher oil. Risk of attacks repeating is another factor for futures risk premium; we may not see steep backwardation but entire curve jump upwards. Unsure on gold - it is retreating after strong rally; this may be a catalyst for next leg up. Or not - depends whether market believe everything goes to hell in a hand basket or see this as an isolated skirmish. My bet first move is up. Not an investment advice, do ur research elsewhere:) Quote Share this post Link to post Share on other sites
DanilKa + 443 September 15, 2019 At open oil is up ~12%, Gold 1% Quote Share this post Link to post Share on other sites
canadas canadas + 136 c September 16, 2019 It will probably go up since it is looked at as a hedge against inflation. Unfortunately, higher crude oil prices can result in higher interest rates and inflation. Quote Share this post Link to post Share on other sites