geopolitical tensions

Geopolitical tensions and global growth outlook to give crude oil price direction in 2024

by
Geopolitical tensions and global growth outlook to give crude oil price direction in 2024

Despite repeated OPEC plus output cuts and Israel-Hamas conflict, oil prices shed more than 13 percent in 2023 against its previous year’s average price. However, prices exhibited a varied move throughout the year driven by multiple factors that affected its fundamentals. US NYMEX oil started at nearly $80 a barrel in 2023 but pushed down … Read more

Gold price outlook in 2024: Will it sustain safe-haven status?

by
Gold price outlook in 2024: Will it sustain safe-haven status?

Following two consecutive years of underperformance, gold made a swift turnaround in 2023, gaining more than 15% in the international market. Multiple catalysts like geopolitical tensions, US Fed policy decisions, a volatile US currency, and a pessimistic global growth outlook reinforced its safe-haven status. The Russia-Ukraine war and the unforeseen events in West Asia due … Read more