{"id":50734,"date":"2020-01-26T19:10:09","date_gmt":"2020-01-27T00:10:09","guid":{"rendered":"https:\/\/olduvai.ca\/?p=50734"},"modified":"2020-01-26T19:10:14","modified_gmt":"2020-01-27T00:10:14","slug":"crude-crashes-as-asia-trading-opens-stocks-slump-gold-jumps-yuan-dumps","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=50734","title":{"rendered":"Crude Crashes As Asia Trading Opens; Stocks Slump, Gold Jumps, Yuan Dumps"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/markets\/crude-crashes-asia-trading-opens-stocks-slump-gold-jumps-yuan-dumps\">Crude Crashes As Asia Trading Opens; Stocks Slump, Gold Jumps, Yuan Dumps<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">While gold is spiking higher and stocks are getting hammered lower after a weekend of ugly headlines surrounding the lethality and spread of the novel coronovirus,&nbsp;<strong>the Saudis are desperately talking down the crash in crude oil prices<\/strong>&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Brent is back below $60 and WTI has crashed to almost a $51 handle&#8230;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2020-01-26_15-14-58.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Saudi Arabia is \u201cclosely monitoring\u201d the impact of the coronavirus outbreak on oil markets,<\/strong>\u00a0but so far sees the crisis having a \u201cvery limited impact\u201d on global demand, Energy Minister Prince Abdulaziz bin Salman says in a statement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Current market impact on oil, \u201cprimarily driven by psychological factors&nbsp;<\/strong>and extremely negative expectations adopted by some market participants, despite its very limited impact on global oil demand.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It seems that &#8220;psychological&#8221; impact is sending gold higher&#8230;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2020-01-26_15-16-24.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">And stocks lower&#8230; Dow futures down over 300 points, back below 29,000&#8230;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2020-01-26_15-14-05.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">And S&amp;P futures back below the key 3,300 level&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude Crashes As Asia Trading Opens; Stocks Slump, Gold Jumps, Yuan Dumps While gold is spiking higher and stocks are getting hammered lower after a weekend of ugly headlines surrounding the lethality and spread of the novel coronovirus,&nbsp;the Saudis are desperately talking down the crash in crude oil prices&#8230; Brent is back below $60 and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[28817,184,374,701,1031],"class_list":["post-50734","post","type-post","status-publish","format-standard","hentry","category-economics","tag-coronavirus","tag-crude-oil","tag-gold","tag-saudi-arabia","tag-yuan"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50734"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50734\/revisions"}],"predecessor-version":[{"id":50735,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50734\/revisions\/50735"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}