Gold Posts Largest Weekly Rise Since July

Gold Posts Largest Weekly Rise Since July

The election of Joe Biden as President with the first female, Black, and Asian American Vice President in Kamala Harris won’t have a direct impact on commodity markets this week except to switch attention away from Donald Trump and towards hopes for more rational policymaking in Washington.

Oil prices fell below $US40 a barrel on Friday as rising global coronavirus cases stoked fears about weak demand and the impact of a lengthy transition process in the US election race kept investors wary and on the edge.

Brent crude fell $US1.46, or 3.6%, to $US39.47. US West Texas Intermediate dropped $1.58, or 4.1% to $US37.21 a barrel.

France, Italy, and the US reported record coronavirus cases for Thursday and Friday, intensifying concerns that additional lockdowns in Europe could weigh on demand.Despite the slide on Friday, Brent was still up 4.6% for the week, and US WTI crude ahead by 4.3%.US coronavirus cases […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet