The decline in gold prices is more correlated to the consistent performances from the US economy and interest rate expectations from the US Federal Reserve, than to slowing economic growth and reduced demand for the commodity, said international forex broker FXTM.
One of the main causes of the fall in oil prices, meanwhile, is the slowdown in China’s economy as the country is a major trading partner with many oil-producing countries, said its chief market analyst Jameel Ahmad.
“If you take a look at the preceding years between 2007 and 2014 when both gold and oil were reaching milestone highs, those were the years when the global economic crisis was particularly intense.
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One of the main causes of the fall in oil prices, meanwhile, is the slowdown in China’s economy as the country is a major trading partner with many oil-producing countries, said its chief market analyst Jameel Ahmad.
“If you take a look at the preceding years between 2007 and 2014 when both gold and oil were reaching milestone highs, those were the years when the global economic crisis was particularly intense.
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