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Beyond Markets
Geopolitics and beyond - What's powering oil and gold?
Oct 10, 2024
As geopolitical tensions escalate, gold prices soar while oil faces uncertainty. Experts discuss gold's shift as a safe haven, with rising demand from Western investors and significant central bank purchases. They explore how geopolitical events impact oil prices, noting that temporary spikes often lead to corrections. The conversation also dives into China's stimulus effects on oil demand and the growing influence of electric vehicles, revealing the resilience of the oil market amid evolving dynamics.
16:21
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Quick takeaways
- Geopolitical tensions have reinforced gold's role as a safe haven, driving increased demand and speculation in the market.
- The oil market remains resilient, supported by ample capacity and historical trends that suggest temporary price spikes from geopolitical fears.
Deep dives
Geopolitical Influence on Gold Prices
Geopolitical tensions, particularly in the Middle East, have reinforced gold's status as a safe haven asset. Recent observations indicate a renewed focus on gold demand stemming from political uncertainties that have positively impacted its price. Although physical demand from Western gold ETFs has stabilized, the bullish sentiment in the futures market, fueled by speculative trading, has contributed to increased gold prices. Furthermore, despite fluctuations in Asian demand, primarily due to changes in central bank purchasing, the overall willingness to pay for gold remains strong due to ongoing geopolitical concerns.
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Discover
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