Oil slides to 16-month lows as investors seek safety in gold
- 2 months ago
Oil has fallen by almost 7% as another volatile market session following and a U.S. government shutdown possibility becoming real.
While the uncertainties in global markets continue investors are fleeing to safe havens such as gold and government debt.
Bullion reached a 6-month peak, Spot gold was at $1,268.38, up by 1% and U.S. gold futures were at $1,271.13.
Meanwhile U.S. crude futures finished at $42.53 per barrel, down 6.7% and at lows not seen since June of 2017.
Following the same trend, Brent crude futures were at a 16-month low of $50.50 a barrel, down 6.2%.
Source: Smart Trend Team