Goldman Sachs Exchanges Why oil and gold prices could keep rising
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Oct 8, 2024 
Daan Struyven, co-head of commodities research at Goldman Sachs, dives into rising oil and gold prices influenced by geopolitical tensions in the Middle East and China's stimulus. He discusses the implications of potential retaliatory actions against Iran and how they could disrupt supply. Struyven also emphasizes gold's bullish prospects, predicting prices could rise significantly amidst changing monetary policies. He argues that gold is a superior investment hedge compared to oil, navigating through various economic uncertainties.
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Oil Price Jump
- Oil prices jumped after Iran's missile attack on Israel and the prospect of retaliation.
- A key question is whether the conflict will disrupt oil supply, potentially from Iran.
Strait of Hormuz Disruption
- Disrupting the Strait of Hormuz would significantly impact oil supply.
- One-fifth of global oil supply flows through this strait.
China Stimulus Impact
- China's stimulus may not significantly boost oil demand.
- It could accelerate the shift to green energy, benefiting metals like copper more.