Oil, gold tumble but base metals buck trend
Published at: www.guardian.co.uk
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Sam TimpanoPresidentSam Timpano & Associates
Long term fundamentals favor oil and gold price rises
January 7, 2009
Crude may not see the highs of last year but will trade higher as 2009 ages and gold could test the highs as a result of actions being taken to deal with the financial crisis in America and the stimulus plans to restart the economy. While demand has fallen due to the current global economic crisis, the fundamentals for crude favor price increase rather than much lower pricing. Some of the same fundamentals that favor a price increase for crude will also have a similar effect on the price of gold.
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January 5, 2009
Oil has likely hit its lowest level (sub $40 per bbl) we will see in 2009. Gold is expected to be in a trading range with an overall upward trend as well. Copper has bounced off lows and is anticipated to also be in a trading range with an upward trend.
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