Economics
Oil dips lower, gold holding ahead of the Fed
Oil edges lower on complicated economic outlook Oil prices are edging lower again today after closing last week towards the lower end of its weekly range. After breaking through key support earlier in the week, the sell-off quickly accelerated and the lack of significant profit taking since suggests further pain lies ahead. The outlook for […]

Oil edges lower on complicated economic outlook
Oil prices are edging lower again today after closing last week towards the lower end of its weekly range.
After breaking through key support earlier in the week, the sell-off quickly accelerated and the lack of significant profit taking since suggests further pain lies ahead. The outlook for crude prices remains complicated by the stricter measures being imposed in various countries and the spike in Covid cases around the world.
And this is before the winter period that many experts have been dreading for months. Any hope of oil demand returning close to pre-pandemic levels before the end of the year may have been very premature and OPEC+ and others may have to be very careful when turning on the taps again.
Gold steady ahead of the Fed
Gold has steadied in the middle of its $1,900-2,000 range, buoyed a little by the fact that the dollar has struggled to build find momentum after breaking higher last week.
This temporary setback for the dollar – and reprieve for gold – may not last though with a corrective move in both cases still looking plausible in the near future. Longer term, the bullish case for gold remains in-tact for all the normal reasons (dollar downtrend, unprecedented stimulus, suppressed yields etc).
Perhaps the near term is being impacted by the Fed meeting this week, traders sitting on the fence in the run up to it. In theory, the Fed enabled itself to at least signal more easing at Jackson Hole, having amended its framework to allow for an inflation overshoot.
Should it pass up the opportunity, traders may reasses just how significant a difference such a policy change will make.

Standard Econ Model Bridges the “Unfortunate Events” and “Original Sin” Explanations for Inflation
Jai Kedia
Two weeks ago, some of the biggest names in academia and monetary policy gathered at Brookings to discuss what factors had contributed to the…
Alabama, 9 US States Give Coinbase 28 Days To Prove Why They Shouldn’t Be Shut Down
Cryptocurrency giant Coinbase Global (NASDAQ: COIN) and its parent company find themselves in hot water as the Alabama Securities Commission
The post Alabama,…
A target band for inflation?
David Beckworth directed me to this tweet:
If the Fed had a single mandate to target inflation, then there would be an argument for switching from a…
-
Economics24 hours ago
Interesting billionaires statistics as the US dominates 2023 world’s billionaire list
-
Energy & Critical Metals23 hours ago
RIVN Stock Alert: Rivian Nabs a Key Tesla Exec
-
News Releases7 hours ago
PowerStone Metals Provides Update on Chilton Cobalt Property
-
Companies24 hours ago
Fury, Bonterra, Quebec Nickel hit by Quebec wild fires
-
Companies12 hours ago
MANTARO PRECIOUS METALS CORP. PROVIDES UPDATE ON RESOURCE ESTIMATE
-
Energy & Critical Metals15 hours ago
7 EV Stocks That Could Skyrocket in the Next 12 Months
-
News Releases18 hours ago
Pelham Investment Partners LP Confirms Recommendation to Vote WITHHOLD on Board of Directors of Nickel 28 Capital Corp on YELLOW Proxy
-
Precious Metals24 hours ago
Rep. Alex Mooney Aims to Block Fed’s Digital Currency Scheme