How will Fighting in Iran affect Metals?

So?

 

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It’s up!

 

As predicted..LOL GOLD @ $5,365 and SILVER @ $94.19, the administration said the war could go for weeks with more countries getting involved, i am eager to see where will be April 1st, also Iran has basically cut off 20% pf the worlds oil supply by targeting anything coming down the strait, have alresdy destroyed two oil tankers !

 

All I know is that I heard oil price will rise now. Bad for Us. I'm more concerned about that and Gas prices as well.
Not educated enough to know how it will affect Gold and Silver however.

 

We're looking at oil being oversupplied bigtime. If not for Chinese inventory stocking, the price would have been in the $40's a few months ago.

Unless demand picks up globally, we have a natural oversupply if not for sanctions and wars.

 

TY. And that's why I flunked economics.

 

And that's why I graduated with Honors in Economics and worked as an economist.

Anybody who wants to get great oil supply and demand analysis, check out my old DB colleague Paul Sankey, probably the best oil analyst out there now working solo. Sankey Research has free registration and most of the material is free. Website can be tough to navigate around, Morning and Sunday Sankey is where you want to get fresh updates.

 

I just listened to Sankey on a CNBC clip and he suggested the Venezuela operation may have been designed to lower the oil price (perhaps by increasing production?). I'll try to avoid getting political here, but it looks like there's a hornet's nest that has just been stirred in the Middle East. So, at least temporarily - and even then that's a problem when the global economy is fragile - the oil price may spike obscenely high. But then again I really don't know. We'll see day by day, week to week, where this goes.

 

You must remember MPC? Our Economic teacher said everyone remembers Marginal Propensity to Consume. Even those sleeping at the back of the class right now will remember MPC for the rest if their lives.

 

Eventually Iran wants to sell oil. It's a wasting asset. It's not 1974 -- threats to boycott the Imperialists won't fly.

They can't eat it or use it.

They need to export and NOW while the getting is good. Nobody is gonna want their oil in 40 years most likely.