WSJ - Saudi Arabia’s state-owned oil company will increase its production to meet rising demand this year, its chief executive said Tuesday, potentially adding a new flood of crude to a global glut that has pushed prices to record lows. So now oil and USO are Dead Man Walking as oil only has one direction to go - DOWN.
China's exports and imports slow more than expected and you know the word "more then expected" is a complete farce since China's economy has been declining for the last year or two as the government does anything possible to "HIDE THE TRUTH".
and you know (as well as I do) that what ever news China posts - its Ten Time Worse in "Reality Land".
the Fed Chairwomen and all members of the Fed Board plan to buy as much gold as they can this month because the word "rate hike" is going the way of the dodo bird.
as the number one economy in the world (U.S.) and number two economy in the world (China) start to free fall in tandem. Then you throw in collapsing Japan economy and falling Europe economy and you know deep in your soul - Oil is heading Way, Way lower.
Dude - get real Saudi Arabia will never ever let Iran or Russia take away their oil market share. Thus Saudi pumps full out and never freezes oil production as long as their "BITTER" enemy Iran keeps increasing oil production. Don't you know that blood is thicker then oil and right now Opec is so "broken" they will never, ever do a bogus deal. Oil heading down so get used to $35 to $40 a barrel for the short and long term.
Agree and at last week's Fed meeting Yellen was sporting new Gold earrings along with gold bracelet on her wrist. Seems the Fed Chairwomen bought gold jewelry before the precious mention jumps another 25%. What a wise old owl.
So long $1,200 an ounce Gold and hello $1,400 ounce gold this month, if not late next week. Gold for all intents and purposes is now the Play of the Decade as Gold Bugs go long and hold well into 2018.
I agree - strong 10% jump today which will be followed by big move up next week. Sure you can buy and hold GLD but I'd rather make an easy double buying Kinross Gold and watch it hit the teens in a couple weeks. ALL ABOARD
Dude - Oil way off its highs as everyone panics (in there long position) knowing more oil will flood world markets going forward. So long $50 a barrel and hello $35 a barrel very, very soon,
Sure looks like "OIL CORRECTION" time now as Saudi Arabia increase oil production just as Putin tells Russian Oil Minister - PUMP Oil Like There is No Tomorrow. Oil headed back to mid-$30 sooner then you think.
Gold over $1350 next week but it won't stop there. Its headed for over $1500 as Crooked Hilly and Crazy Donald get ready to "Shock the Monkey" and send U.S. economy into a Free Fall.