Oil has been dropping for a while. Supplies were not all that tight, and it went up over 70 mainly on fears of impending wars and boycotts.
This was a critical day for gold and silver, up or down, and they both just broke down through support.
IMHO, the bull market in precious metals probably won't resume for at least another three months.
Probably the new Treasury Secretary had something to do with this happening at this key moment in time, right at the beginning of the September gold season and right before the run up to the elections. If so, good for him, because it will help the Republicans.
I bought gas at $2.37 in Virginia on Saturday. At another Virginia location it was $2.27, however in my county it was $2.74. Fairfax county is always the most expensive.
The september gold season? are the crop yields too high, is that why it's dropping?
I was thinking about buying some gold trees for my own use.. ;-)