Oil and Gold market overview
2023.02.10 14:56
Oil
As analysts continue to be encouraged by China’s transition to living with Covid, oil is on track for a strong week of gains that will erase the losses of the previous week. While “resilience” has been the buzzword for a lot of the global economy this year, China’s recovery is more about how strong it will be.
Once they started removing restrictions, it was assumed that the first or second quarter would be difficult, but that fiscal and monetary measures would unleash growth in the second half of the year. It would appear that these expectations are now being brought forward, which should increase demand for commodities like oil. Oil has been somewhat rangebound over the past few months, but a stronger Chinese recovery may very well put those upper limits to the test.
Gold
As analysts continue to be encouraged by China’s transition to living with Covid, oil is on track for a strong week of gains that will erase the losses of the previous week. While “resilience” has been the buzzword for a lot of the global economy this year, China’s recovery is more about how strong it will be.
Once they started removing restrictions, it was assumed that the first or second quarter would be difficult, but that fiscal and monetary measures would unleash growth in the second half of the year. It would appear that these expectations are now being brought forward, which should increase demand for commodities like oil. Oil has been somewhat rangebound over the past few months, but a stronger Chinese recovery may very well put those upper limits to the test.
