Gold is $600 Higher Than Last Time Oil was $90
We have three oil stories for you today, but one is really about gold. The first one, the Wall Street Journal learns that the UAE has asked Washington for dollar swap access as war risk rises, warning that without liquidity support, oil trade could begin shifting towards yuan settlement for them. In the second one, there's your gold story, this may be the largest oil supply supply shock ever recorded, but Commerce Bank says the economic damage could still fall short of the 70s unless disruptions drag on and start breaking global supply chains. And in the third story, the Bank of America says oil markets are getting it wrong. While futures price a quick recovery, physical markets are flashing extreme shortages, suggesting demand may need to be rationed and prices could move well above $100.
https://vblgoldfix.substack.com/p/gold-is-600-higher-than-last-time
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