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Oil Falls – Gold Rises

Oil Falls – Gold Rises
Category: Market Reports
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Posted: 04-18-2016 12:41:00 PM

Silver, Platinum and Palladium are in the red this morning as gold seems to be receiving all the attention from the precious metal investors.

Gold starts off the week in positive territory as oil prices fall over 4 percent overnight on news that the largest oil producers ended their weekend meeting without a deal. The world’s largest exporter of oil, Saudi Arabia, had expected to get an agreement at the meeting on Sunday that would put a freeze on oil output production levels but Iran is continuing to increase output following the lifting of the sanctions against them. Therefore, in turn, we start Monday with lower oil prices and weakness in the equity markets.

Also, helping give the price of gold a boost, is a weaker dollar and strong inflows into the gold ETFs, reversing a three day redemption pattern that was witnessed at the end of last week. Gold ETF’s now stands at a year high of almost 58.4 million ounces held.

Silver, Platinum and Palladium are in the red this morning as gold seems to be receiving all the attention from the precious metal investors.

Some Wall Street precious metal day traders have expressed an interest in trading oil instead as the volatility has increased in that market and gold seems to be locked in a trading range with little price movement.

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About The Author

Walter Pehowich Author Name: Walter Pehowich
This editorial has been prepared by Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept the foregoing.

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