Oil should should be past $130/brl soon since Alan Greenspan told a group of Saudis they should drop the dollar peg to stop their inflation problem.
USDX has the $ below 75.
Gold Passes $950/oz Rhodium passes $9000/oz Platinum passes$2100/oz
by uwishufish 3 Replies latest social current
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willdabeerman
Ok. Then the market corrects itself eventually and we will move on. Tis been like this forever. What's the issue?
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hillbilly
all real things of value usally take off when the dollar slides. back in the 70's gold jumped from less than $100 bucks an ounce... and as the dollar stayed week gold got into the $ 700's or better and stayed there. this kind of thing has happened before... it's a matter of how low things get before they ever get better this time.
~Hill
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uwishufish
This time the run up in price has more to do with money (fiat currency) supply. The more $ that are printed the more it costs to buy any given item including gold. Oh it would be nice to see a correction and my can of campbells soup cost 65 cents again but with the price of commodities such as wheat doubling in the last year.
I fear the only correction we will see is going to be small even a 25% correction would not bring us to the price of gold of just 1 year ago.
Rhodium is now over $9000 an oz. just a few years ago it was $500.