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Commodities Briefing - Categorized | Bullion/Gold, Energy, Market Moves more

Will increased U.S. energy production kill the gold bull?

Posted on 19 November 2012

Strong evidence that the price of gold tends to follow the price of oil was given in the Seeking Alpha article titled, “Oil Will Drive Gold Prices Even Higher”. The relationship between oil and gold prices is primarily caused by two factors: higher oil prices cause increased inflation and also leads to expansion of the trade and fiscal deficits in the United States, the world’s largest oil importer.
The International Energy Agency (IEA) has recently issued a report predicting the U.S. will become the world’s largest oil producer, and may even begin exporting by the year 2030. The obvious question then becomes: will increased U.S. oil production kill the bull market in gold prices?………………………………………Full Article: Source


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This post was written by:

VRS - who has written 36927 posts on Opalesque Commodities Briefing.


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