Oil and gold

[Gloria Mb 0]

How will the recent drone attack at Dubai refinery affect gold price

Edited September 15, 2019 by Gloria Mb

[DanilKa + 443]

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:)

[DanilKa + 443]

At open oil is up ~12%, Gold 1%

[canadas canadas + 136]

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.