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Gold has long been considered a stable means of storing wealth, and the gold price often scores its biggest gains during turbulent times as market participants rush into this well-known safe haven investment.
Unarguably, the 21st century has so far been heavily marked by substantial episodes of economic and sociopolitical turbulence. These uncertain times have pushed the gold price to record highs as investors seek the perceived security of the precious metal. And each time the gold price rises, there are bound to be calls for even higher record-breaking gold prices.
Gold market gurus from Rob McEwen to Frank Holmes to David Smith have shared eye-popping predictions on the gold price that would make any market participant salivate gold bug or not.
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Rising oil prices have historically preceded high inflation. Is there a strong relationship between the oil price and inflation?
Rising oil prices often bring dire headlines warning investors about the looming threat of inflation. But is there a causal relationship between the oil price and inflation?
Inflation devalues currencies and results in higher prices for consumer goods and services. In turn, the larger cost of living for consumers can negatively impact discretionary spending and economic growth.
Historically, higher oil prices have statistically correlated with inflation. As prices for oil go up, so do prices for goods that are dependent upon oil. For example, costs may increase for goods made from petroleum-based products such as plastics, or for goods such as fruits and vegetables that have traditionally been transported to market via gasoline- or diesel-powered trucks and trains.