At Extreme Investor Network, we strive to provide valuable insights and analysis on the latest trends and developments in the stock market and financial world. Today, we want to discuss the potential impact of Saudi Arabia’s influence on the U.S. election through oil prices, as well as the unstoppable climb of gold in the commodity market.
It has been suggested that Saudi Arabia may attempt to sway the outcome of the U.S. election by raising oil prices, with the goal of ensuring President Biden loses to Donald Trump. History shows that no U.S. President has been re-elected when oil prices have traded near the $100 a barrel mark. This is a fascinating angle to consider in the current political landscape and its potential impact on the stock market and overall economy.
Shifting our focus to the commodity market, gold has emerged as a star performer in recent times. Its meteoric rise to new heights has solidified its status as a must-have asset in any investment portfolio. Recently, gold prices surged to a new all-time high of $2,431 per ounce, surpassing its previous record set just a day earlier. The precious metal has seen a remarkable gain of over 23% since mid-February and an impressive 35% increase since October.
Analysts at GSC Commodity Intelligence have highlighted the close relationship between gold and oil prices. Oil prices tend to be supported during periods of inflation, while gold is often used as a hedge against inflation. This positive correlation suggests that higher gold prices may coincide with increased oil prices, making it a crucial indicator to monitor in the commodity market.
At Extreme Investor Network, we provide in-depth analysis and unique insights to help investors navigate the complexities of the stock market and make informed decisions. Stay tuned for more updates and expert commentary on the latest trends shaping the financial world.
