Crude Crashes, Gold Rallies: How US Midterm Results Are Reshaping Commodity Markets (AI-generated Image)
\n\nGlobal commodity markets have witnessed sharp movements following the US midterm poll results. Crude oil prices fell as much as over 8 percent after the midterm poll results. Gold prices surged to its highest level in over two weeks on a weaker US dollar and Treasury yields as easing oil prices helped temper inflation concerns after major Democratic gains in the US midterm elections also raised hopes of a US-Iran peace deal.
\n\nGlobal oil expert and CEO-Australia, Trading.com & Chief Strategist Asia-Pacific XM.com, Peter McGuire told Times Now Digital, "energy markets have been sold off heavily over the past 36 hours and smart money has ridden the precious metals hard to the upside with gold and silver both enjoying significant uplift. Bond yields are contracting and equities have been bid up strongly in New York and Asia today, markets are risk on and traders are embracing the midterm election results."
\n\nAnalysts believe the US midterm polls and the way investors across equity and commodity markets shows how changing investor expectations are impacting sentiment. While lower crude oil prices offer some relief to oil-importing economies such as…
Original source: https://www.timesnownews.com/business-economy
