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Oil Rises, Gold Tumbles On Fed

By Craig ErlamCommoditiesJan 27, 2022 12:25PM ET
www.investing.com/analysis/oil-rises-gold-tumbles-on-fed-200616197
Oil Rises, Gold Tumbles On Fed
By Craig Erlam   |  Jan 27, 2022 12:25PM ET
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Oil prices are making decent gains again on Thursday, with Brent once more above $90 ,which is naturally leading to talk of $100 oil and when it will happen. The environment continues to be very bullish for oil prices, given supply issues within OPEC+, strong demand and now, geopolitical risk premiums. It’s hard to see what’s going to stand in the way of triple-digit oil, especially if we see no diplomatic breakthrough between Russia and the West any time soon. And based on Russia’s response to their proposals, it doesn’t seem a breakthrough is on the horizon.

Gold Pummelled By Hawkish Fed

Stock markets certainly took the Fed decision better than gold did, with the yellow metal falling 1.6% on Wednesday and now another 0.5% today. It seems that weeks of traders embracing gold like an old friend that offers inflation protection have quickly unwound and it has been quickly cast aside. While it has found some support around $1,800 today and may remain supported to some extent out of fear that even five hikes won’t do it, it’s certainly fallen out of favour and may have peaked for now.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Oil Rises, Gold Tumbles On Fed
 

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Oil Rises, Gold Tumbles On Fed

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Comments (4)
Rana Atul rajput
Rana Atul rajput Jan 27, 2022 11:59PM ET
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thats right
Rana Atul rajput
Rana Atul rajput Jan 27, 2022 11:59PM ET
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thats right
Ying Yu
Ying Yu Jan 27, 2022 6:10PM ET
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Obviously, it is a bull trap for crude oil as COVID pandemic is more severe around the World.
Shane Zhang
Shane Zhang Jan 27, 2022 4:56PM ET
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gold to oil ratio is near bottom
 
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