X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

  • 4 minutes IMPORTANT ARTICLE BY OILPRICE.COM EDITOR - "Naked Short Selling: The Truth Is Much Worse Than You Have Been Told"
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 42 mins Texas forced to have rolling black outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 15 hours Retired RAF pilot wins legal challenge over a wind farm
  • 12 hours U.S. Presidential Elections Status - Electoral Votes
  • 5 hours Speaker Pelosi, "Tear Down This Wall"
  • 11 hours NYT:  The Supreme Court’s order (Re:  Trump’s tax returns) set in motion a series of events that could lead to the startling possibility of a criminal trial of a former U.S. president
  • 3 hours Interest article about windmills and waterwheels in Europe
  • 2 hours Joe Biden's Presidency
  • 5 hours Disaster looming in UK offshore wind power
  • 14 hours Wednesday Nikki Haley reached out to Trump for meeting at Mar-a-lago. Trump said No ! You blew it Nikki . . .
  • 2 days Minerals, Mining and Industrial Ecology
  • 14 hours Scientist clone endangered Black Footed Ferret from Ferret that died 30 years ago . It's a 100% exact genomic match.
  • 22 hours Pipeline vs Train vs Ship to Transport Crude Oil.
  • 23 hours NG spot prices hit triple digits for weekend delivery
  • 2 days Chance for (Saudi)Arabian peninsula having giant onshore Gas too?
Can OPEC+ Maintain Order As Oil Prices Rise?

Can OPEC+ Maintain Order As Oil Prices Rise?

Oil prices soared past $60…

Will New Zealand Ever Unlock Its Oil Potential?

Will New Zealand Ever Unlock Its Oil Potential?

Small oil producer New Zealand…

Gold Rallies Into The New Year

Gold is off to a good start in 2021 after recording its best yearly gain in a decade. Prices surged above $1,900 an ounce on Monday to the highest in almost two months as lower US real yields and a weaker dollar kept the yellow metal’s momentum up.

Spot gold advanced 2.1% to $1,939.41 an ounce by 11:40 a.m. EST. US gold futures were also up 2.6% to $1,945.10 per ounce.

Real yields — the difference between nominal benchmark bond yields and the rate of inflation — fell close to last year’s lowest point on Friday, boosting bullion’s appeal. The decline in real rates is being driven by a rise in inflation expectations, with the market betting on vaccine distribution, further central bank support and continuing government aid.

“Investors are looking for assets which benefit from higher inflation,” Giovanni Staunovo, an analyst at UBS Group AG, said in an interview with Bloomberg. “The reflation element is also supporting gold today.”

Meanwhile, the US currency continues to languish after sliding for three quarters, with the dollar index dropping to a 2-1/2 year low, thus making bullion cheaper for holders of other currencies. Gold is also being supported by renewed inflows into exchange-traded funds, following withdrawals in November and the first weeks of December.

“There is the likelihood that we will see significant stimulus, which will lead to further declines in the dollar,” Jeffrey Sica, founder of Circle Squared Alternative Investments, told Reuters.

Tuesday’s run-off elections in the US state of Georgia, which will decide which party controls the Senate, were also on investors’ radar. “The Senate election this week could turn out to be a major disruptive event so gold is rallying on that,” Sica added.

A unified government would increase president-elect Joe Biden’s ability to reshape the world’s largest economy, from rewriting the tax code to boosting stimulus and infrastructure spending.

Non-yielding bullion is widely considered a hedge against inflation and currency debasement that are likely to result from large stimulus measures.

By Mining.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News