◆ 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
Oil up over 10% – Crude oil price chart
Trump says US ‘locked and loaded’ after attack on Saudi oil supply
Trump authorized release of oil from Strategic Petroleum Reserve if needed to keep markets supplied
Saudi Arabia reportedly aims to restore one-third of lost oil output by Monday
China’s Aug industrial output growth grinds to 17-1/2 year low
Gold’s Significant Role for Central Banks – WGC Research
China and Russia Are Buying Gold, and They Don’t Care How Much It Costs
Why Russian and Chinese central banks will keep buying gold
Golden toilet stolen from Blenheim Palace – Should have went to GoldCore Secure Storage
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
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