Posted on 05/15/2013 6:32:24 AM PDT by blam
This is a long term secular move down with the US producing more oil each year and more oil pushing the value of the dollar up each year—which pushes gold down. Throw in a growing oil led economy that pushes down US government deficits and the future of gold is locked in down.
US shale energy creates global oil ‘supply shock’
Booming oil production in North America brought on by the shale energy revolution has created a global “supply shock” that is reshaping the industry, the International Energy Agency said on Tuesday.
http://www.telegraph.co.uk/finance/newsbysector/energy/10055785/US-shale-energy-creates-global-oil-supply-shock.html
(btw it may be no coincidence that this supply shock comes at the same time as the obama meltdown because the first opec price HIKE came at the same time as the watergate was getting started in 1973)
I’ve given up on Fox lately because of all the ads they run on gold and reverse mortgages. I am particularly ticked off at the Debbie Boone commercial for face lifts. Can’t Fox get some decent commercials?
Goldbug ping.
Here,
I will ping to any gold, silver or other metal if it interests me.
I can add you if you request it.
Prices have been odd and very volatile here for a while. I can buy premium where my employer is located for the same price as regular where I live. Same state. Office is in a city, home is In outer suburbia verging upon rural. About 30 miles apart.
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