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GOLD $1,197.4

the issues surrounding the US oil strike and gold.

  1. MilliBuster

    672 Posts.

    At first glance one can certainly say that the biggest oil worker strike in the US since the 80's is bad for gold. The US cuts production and oil prices go back up to levels allowing global producers to pay back debt and narrowly avoiding insolvency. This is an immature view, as while the workers are worth more on strike than on the job to companies like BP they are hurting Americans. Oil is the US's largest export and cutting back on production will see the largest trade deficit blow out even larger. The issue becomes who is worth more, the workers, the US, the global economy facing deflation or the oil companies? This is shaping up to become a thriller...

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