The news article proposes a theory that Saudi Arabia may try to influence the outcome of the U.S election by manipulating oil prices to ensure President Biden loses to Donald Trump. The historical trend shows that no U.S President has won an election when oil prices have been near the $100 a barrel mark. This speculation raises concerns about the potential impact of external factors on democratic processes and national interests.
Meanwhile, in the commodity market, Gold is emerging as a star performer with its meteoric rise to new heights. Gold prices have reached a record high of $2,431 an ounce, marking a significant increase from previous levels. The precious metal’s value has surged by over 23% since mid-February and an impressive 35% since October, making it an attractive asset for investors seeking stability and value in uncertain economic times.
Analysts are closely monitoring the relationship between Gold and Oil prices, noting their positive correlation during times of inflation. As Gold is often used as a hedge against inflation, its rising value can indicate a potential increase in oil prices as well. This dynamic interaction between two of the most-traded commodities highlights the complex interplay of economic factors influencing global markets.