Iraqi Dinar 123 News:– It has been reported that Iraq being one of the major oil reserves, if oil supply stops from Iraqs side, it would cause the world a lot of problems. The world oil prices for Brent crude oil remained at $ 115 per barrel recently but they may rise. According to analysts, news is not good. At present the exports of oil by Iraq are not changed but there is a big threat that the production of the growth in oil supply might be targeted. If the supply of Iraq’s oil stopped, the price per barrel would go upto $ 160.
During all this commotion regarding the oil prices and its hype that the price might go up or down caused a lot of commotion in the gold market. The price of gold rose while the European stock market went down. All the investors who were keen in investing in the gold pulled back caused a stir. If this continues the dollar would weaken too which would result in weakening of the price of metal as well as the US currency.
The last two months have been vital and have shown some stir in the market but it is very important to deal with the actual demand of oil keeping in views the affects it would have on gold and dollar.