Scenarios for Gold; Can Oil Sustain 2021 Rally? Sep 23, 2021 View in your browser Gold’s Path Forward; Oil’s Challenges and Bright Spot By Blu Putnam, Chief Economist Erik Norland, Senior Economist CME Group Gold’s Path Runs Through Inflation, Fed Response Gold has been trading in a wide range from $1,700 to $1,950 the past year. Fed’s current view is that high inflation of the past few months will be transitory. If Fed’s consensus changes, it might raise rates faster than fed funds suggest. A less accommodative Fed could adversely affect gold like in 1980. Watch video Can Low Inventories Help Oil Sustain Rally? Recovery in U.S. air travel has slowed over the past two months. U.S. oil output could increase, along with top producers like Saudi Arabia. Oil market faces seasonally weak demand period as fall arrives. U.S. oil inventories are lower than levels from a year ago. Watch video SEE MORE ANNOUNCEMENTS
