Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,318.20 +138.38 0.91%
S&P 500 1,651.81 +12.77 0.78%
Nasdaq 3,482.18 +30.05 0.87%
Ticker Volume Price Price Delta
STOXX 50 2,687.23 -13.70 -0.51%
FTSE 100 6,347.41 -26.80 -0.42%
DAX 8,194.03 -35.48 -0.43%
Ticker Volume Price Price Delta
Nikkei 13,245.20 +237.94 1.83%
Hang Seng 20,986.90 -238.99 -1.13%
S&P/ASX 200 4,861.38 +47.03 0.98%

Rising Oil Prices Could Send Gold “Much Higher,” UBS Says

Rising oil prices could send gold “much higher” as higher energy costs will likely curb global growth, according to UBS AG. (UBSN)

“In addition to geopolitical risk premium and the impact of elevated oil prices on inflation expectations, the potential for expensive oil to put a drag on global growth also has upside implications for gold,” Edel Tully, a London-based analyst wrote in a report today.

To contact the editor responsible for this story: Maria Kolesnikova at mkolesnikova@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Sponsored Link