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Oil Rises, Gold Vs. Rising Real Yields

By MarketPulse (Ed Moya)CommoditiesSep 23, 2022 03:13AM ET
www.investing.com/analysis/oil-rises-gold-vs-rising-real-yields-200630211
Oil Rises, Gold Vs. Rising Real Yields
By MarketPulse (Ed Moya)   |  Sep 23, 2022 03:13AM ET
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Crude prices remain volatile as energy traders grapple with a deteriorating demand outlook that is still vulnerable to shortages. Supply risks and tight market conditions should give oil some support above the $80 level, but a quicker tumble to a global recession will keep prices heavy. ​

Oil pared gains after eurozone consumer sentiment plunged to a record low as the energy crisis and aggressive central bank tightening is killing economic growth prospects. ​ ​ ​

Gold

Gold prices are steadying as foreign exchangeX volatility sends the dollar everywhere. ​Aggressive moves higher with global bond yields are not having that much of a negative impact on gold. Gold is clearly going to become a safe-haven as the global outlook deteriorates and as Wall Street grows confident that we are nearing the peak with Treasury yields. ​

Gold has massive support at the $1660 level and if it can stabilize above there, prices could eventually make a move back above the $1700 level.

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Oil Rises, Gold Vs. Rising Real Yields
 

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Oil Rises, Gold Vs. Rising Real Yields

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Comments (1)
Osama Khairy
Osama Khairy Sep 25, 2022 3:06PM ET
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