Category: Commodity Perspective
Gold has surpassed the all-time high level of $2,074.89 per ounce recorded during the pandemic phase of 2020.
The overwhelming change in the interest rate expectations has instigated a positive return for gold. Still featuring prominently in the reserves of nearly every major central bank around the globe, gold remains a de facto currency.
As the global economy confronts the shortage of Russian crude oil following the EU ban, the volume of US crude oil being exported to Europe has increased in the recent few months and is set to remain high.
On the back of the Russia-Ukraine conflict, the bullion rose to $2,070.16 per ounce in March before observing seven consecutive months in bearish territory reaching $1,614.61 per ounce in September.
For some, ushering in 2023 will be a welcome change while for others it could be a continuation of an enthralling year that was 2022.
When most global economies are facing a slowdown in growth in the aftermath of the Covid 19 pandemic, the emerging markets in Asia shine as a bright spot on the investment map.
2022 has been a rollercoaster ride for oil. The twists and turns that the year observed can be an appropriate blueprint for a thriller series.
