‘Black Gold’ Surges 8%, Gold Price 1% And Silver Price 2% After Saudi Oil Attacks

September 16, 2019

◆ Oil (Black Gold) surged over 15% after the attacks on the Saudi oil facilities; oil prices are now 10% higher with gold 1% higher and silver over 2% higher

◆ U.S. stock index futures dropped as oil prices surged the most on record; Brent crude soared as much as 19.5% and West Texas Intermediate added 15.5% after a drone strike on a Saudi Arabian oil facility increased already very high geopolitical risks in the “tinder box” Middle East

◆ S&P 500 Index futures were down 0.5% and in Europe, the Stoxx 600 Index dropped 0.5%, led lower by cyclical financial stocks

◆ Fear of an oil price shock is growing and every US and global recession in the past 50 years has been preceded by a spike in oil prices

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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

The periodic symbol for gold is AU which come from the Latin for gold aurum.

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