Gold Oil Surges 8%, Gold 1% and Silver 2% After Saudi Oil Attacks

◆ Oil surged over 15% after the attacks on the Saudi oil facilities; oil prices are now 10% higher with gold 1% higher and silver over 2% higher

◆ U.S. stock index futures dropped as oil prices surged the most on record; Brent crude soared as much as 19.5% and West Texas Intermediate added 15.5% after a drone strike on a Saudi Arabian oil facility increased already very high geopolitical risks in the “tinder box” Middle East

◆ S&P 500 Index futures were down 0.5% and in Europe, the Stoxx 600 Index dropped 0.5%, led lower by cyclical financial stocks

◆ Fear of an oil price shock is growing and every US and global recession in the past 50 years has been preceded by a spike in oil prices

NEWS and COMMENTARY

Oil surges, gold up, stock futures slip after attack on Saudi facility

Trump says US ‘locked and loaded’ after attack on Saudi oil supply

Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)

13-Sep-19 1506.30 1503.10, 1209.41 1208.19 & 1356.88 1358.35
12-Sep-19 1502.95 1515.20, 1219.94 1227.46 & 1362.88 1373.53
11-Sep-19 1493.65 1490.65, 1208.21 1209.07 & 1354.74 1355.90
10-Sep-19 1494.60 1498.25, 1211.52 1211.34 & 1353.51 1357.11
09-Sep-19 1509.95 1509.20, 1223.81 1220.34 & 1368.62 1364.92
06-Sep-19 1504.95 1523.70, 1223.52 1237.09 & 1363.94 1378.49
05-Sep-19 1542.60 1529.10, 1257.06 1238.72 & 1397.44 1380.78
04-Sep-19 1538.80 1546.10, 1265.05 1269.97 & 1397.69 1403.86
03-Sep-19 1532.45 1537.85, 1278.06 1277.80 & 1400.35 1403.44