Markets

Commodities: Gold, Crude Oil Look to Fiscal Cliff Talks for Direction

Crude oil and gold prices are at the mercy of US lawmakers as all eyes remain on Washington, DC in hopes of a deal to avoid the fast-approaching "fiscal cliff".

Talking Points

  • Crude Oil, Copper to Rise with Stocks if "Fiscal Cliff" Deal is Achieved
  • Gold and Silver to Reflect Dollar's Response to US Budget Negotiations

The spotlight remains on Washington, DC as financial markets return from the Christmas holiday, where US policymakers have a mere five days left to deliver a deal avoiding the so-called "fiscal cliff" . The markets' baseline scenario appears to call for a last-minute compromise that avoids an immediate fiscal shock but falls short of setting US public finances on a sustainable long-term path. The emergence of a loose framework for negotiating a "grand bargain" in the future also seems to be baked in.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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