Replies to post #23007 on Prom Resources Inc (PRMO)

[noahsplay]

your not kidding - April 29 (Bloomberg) -- Gold fell to a four-week low as the dollar climbed against the euro, eroding the appeal of precious metals and commodities as alternative investments. Silver also declined.

The dollar rose as much as 0.7 percent versus the euro on speculation the Federal Reserve will signal that it's close to pausing after six interest-rate reductions. Before today, gold and commodities gained more than 30 percent in the past 12 months, while the dollar slumped 13 percent against the euro.

``If, as we suspect, the Federal Reserve stands pat on rates, or signals that it is done for the time being, we could see the dollar strengthen, and lead to another bout of profit- talking in commodities,'' Edward Meir, an analyst at MF Global Ltd., said in a report.

[mwright45]

gold needs to take a correction it went up too fast with no much consolidation....Oil will take it fall too it has to correct after rising as much as it did...some food for thought reason oil was going up because of the speculators the hedge fund have been puting 10 BILLION dollar in a day to make it go up oil didn't go up because of demand lol that's for sure