If we get another rate cut, where do you think gold and oil end up by the end of August?
Higher than today. Hedge funds are fleeing the dollar and currency in general. I think the new currency is commodities, gold, silver, copper, wheat, corn, oil. All the big money seems to be moving there for safety. It used to be that in times of uncertainty, there would be a flight to the safety of US treasuries. Now US treasuries are being shunned by the rest of the world in favor of more tangible things like gold and oil.