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Re: Gold--and the dollar...Wayne
Posted By: Dieter In Response To: Re: Gold--and the dollar...Wayne (hugo)
Date: Thursday, 8 May 2008, at 2:54 a.m.
In 1980 world usage to oil production was 5.9%. That was more or less when the previous highs in the oil price occurred. Today the usage is 3.5%...it WILL go up...IF it goes to 5.9% we are looking at a oil price of 150$ a barrel.There will defenitely be volatility to the down side , but the trend is secure.
The inflation question...in a "normal world economy where the US was the only super power , dropping the Fed rate would stimulate growth.The problem now is that the East is keeping commodity prices high , feulling inflation. I think the fed is far from turning the current cycle op dropping rates...
Gold may be technically weak , but the underlaying fundamentals are getting stronger by the day. With the weakening dollar,world wide uneasyness with food security,the massive $ reserves outside the US gold won't turn aroud , any pullback is a buy...
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