SLV - The Gold-Oil Relationship Has Changed For Now
By Owain Johnson
At a Glance
- The world's most-watched commodities typically move in tandem, but global economic concerns and trade tensions have changed the dynamic.
- Gold prices have risen as investors look for safer assets, while U.S. oil production has made the commodity less sensitive to geopolitical tensions.
The traditionally tight relationship between gold and oil prices is disconnecting once more as the gold price soars, while crude oil remains under pressure.
The nearby COMEX gold futures price broke through the $1,400 per troy ounce mark in June, the highest gold price seen since August