Oil up, metals down????

MrOrganic

Ok could someone explain this correlation

dbcoin

supply numbers came out for oil today and they were favorable to a higher oil price. I have no answer for metals

DoubleEagle59

my advice is,

don't get wrapped up in the day to day price movements. Gold up, silver down, oil down, platinum up....it really doesn't matter.

The mega trend is still way up for the PM's. It's got a long way yet to go.

Kameo

Keebler Elves must have got together again plotting and scheming. Oops, they control the cookie market.

MrOrganic

<< <i>my advice is,

don't get wrapped up in the day to day price movements. Gold up, silver down, oil down, platinum up....it really doesn't matter.

The mega trend is still way up for the PM's. It's got a long way yet to go. >>



very true! BUT on the way up I like to trade the dips & rises.


I know its currency related why the metals fell but cant figure out why

cohodk

The economy seems to be improving, even if I dont believe it. But this could be the reasoning you are looking for. The US economy could be doing much better than its European or Japanese counterparts. This makes the dollar more attractive relative. So oil goes up on economic promise and gold drops on a stronger dollar.

Of course there are technical factors as well. Oil broke out of $75 resistance and gold had just rallied $70. Buy the breakout and sell the overbought.

MrOrganic

<< <i>my advice is,

don't get wrapped up in the day to day price movements. Gold up, silver down, oil down, platinum up....it really doesn't matter.

The mega trend is still way up for the PM's. It's got a long way yet to go. >>



long term view is down. Heard a currency analyst say that obama wants U.S. to go from a consumer nation to a export nation. To do that we need a weaker cuurency. hhmmmm what are we going to export?

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