I'm not completely buying the following quote from Ihub news...
"If (OPEC) decides to go ahead and cut production, that should boost the oil market and could help precious metals," said Afshin Nabavi, head of trading at MKS Finance in Geneva.
I think it could help the price of oil for obvious reasons. Not that it'll go screaming up again, but it may stabilize the price eventually. Where is anybody's guess at this point and will depend on demand and the ever present speculation/manipulation.
As for gold/silver, I think the higher the price of oil remains, the deeper and longer the recession will be and the lower the price of gold/silver will be in spite of whatever inflation higher oil prices brings.
But everything is so muddled up right now it's just incredible, and impossible to intelligently weigh all the relevant factors at any given moment.
As far as I can see at this point, the ONLY factor that will drive up the price of silver/gold will be inflation...and that just ain't in the cards for the time being. In fact it may be quite a long time before it is in spite of the fact that we're literally swimming in dollars and there's more on the way.
There's no doubt in my mind that inflation WILL BE a major factor in the future so there's no argument there. It's only the timing that's in question.
BTW...do you own or play the SLV/GLD etf's or strictly physical stuff? I don't know if I've ever asked you before.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
McBUSHIE'S choice of Palin was irresponsible, dangerous and insulting to America's intelligence. That choice and his continuing smears/lies prove he'll do anything to win this election even to the point of endangering his own country.DEFEAT HIM!
