Peter McGuire: US Iran tensions may lift oil to $130-$140
Ongoing tensions between the US and Iran are making oil prices unpredictable.
Peter McGuire from Australia-Trading.com says if things heat up, we could see oil jump to $130 to $140 a barrel, levels not seen since previous supply shocks. But if things calm down soon, prices might settle closer to $85 to $100.
All this uncertainty is already hitting Asian stock markets and raising worries about inflation.
Gold and silver prices drop
Surprisingly, gold and silver prices have dropped even with all the global drama.
McGuire explains it's mostly because rising US bond yields and a stronger US dollar, while capital is also moving into energy futures instead.
He adds that once the current rush for energy cools off, people may return to gold and silver as safer bets, especially if these geopolitical jitters stick around.