At some point oil will be so expensive that there will be an industrial shift away from oil...ive high lighted the word "cheap" in the quote....all petrol driven cars can be easily converted to run on LPG or NG...in a few hours...If you can back this up, then I might be able to respond.
As it is, there are few alternatives to refined crude oil in terms of cheap, transportable energy.
Of the hundreds of millions of transport vehicles on the road, a minute fraction run on LPG.
There are dire substitution effects that have to be taken into account.
As it stands, oil is destined for a very strong run north in coming years.
Gold might lead or follow, but is unlikely to "disconnect" from the trend.
If, as you suggest, oil goes down the gurgler then I suggest you seriously think about getting out of gold.
You clearly miss the point.At some point oil will be so expensive that there will be an industrial shift away from oil...ive high lighted the word "cheap" in the quote....all petrol driven cars can be easily converted to run on LPG or NG...in a few hours...
1 day oil will be as worthless as a horse, gold will never ever see this day....
Both Gold and Oil are Finite thats true...however there is no alliterative/substitute for gold.
Rob, you don't believe that the inflationary effect of rising POO will have a positive effect on POG?Moreover, I believe that POO's rising price will be a major determinant of POG's in the near years - not vice versa.
Questions framed in the negative can't get a right answer.Rob, you don't believe that the inflationary effect of rising POO will have a positive effect on POG?
My technical understanding of the English language isn't that great, but the question was open and could be answered in any way you like I thought.Questions framed in the negative can't get a right answer.
If I said "yes", what do I believe?
If I said "no", what am I saying no to?
I am saying I expect oil prices to rise substantially higher in years ahead.
I am saying that I expect gold will correlate closely.
I have no view on inflationary effects vis a vis oil and the above correlation.
I expect gold to be trading in the $1000 range in 2009 - maybe earlier (but that is not my preferred forecast).
So, correlate as in go up?I am saying that I expect gold will correlate closely.
I believe you got a concise answer from me.My technical understanding of the English language isn't that great, but the question was open and could be answered in any way you like I thought.You only had to answer with a yes, or a no, and a brief explanation, or none.
I'm struggling to see where I said POO and POG had an inverse relationship.It's generally considered that rising POO has an inflationary effect and gold is used as a hedge against inflation. That's why I framed the question as I did because you stated that rising POO would have an inverse relationship to POG. I thought you said that anyway.
So, correlate as in go up?
LOL. I misread you. I thought you said rising POO would have a 'detrimental' effect on POG, but you said 'determinant'.I'm struggling to see where I said POO and POG had an inverse relationship.
LOL. I misread you. I thought you said rising POO would have a 'detrimental' effect on POG, but you said 'determinant'.I need glasses!
Apologies. I'm off to the eye doctor.
The oil problem has had and will continue to have its effect on gold but in the bigger picture it is a mere side issue. The falling value of currencies across the board are the real issues; and at this time the falling US dollar the particular one.
Too early to say if this is an abc or a W3 but I have covered my longs and gone over to the short side... as an old girlfriend used to tell me.. let it develop..This count is looking more incorrect as the days roll by, however breaking down the 2orB wave gives a=c currently... so if it is going to retreat it should be around here somewheres??
Cheers
.........Kauri
... as an old girlfriend used to tell me.. let it develop..
Cheers
........Kauri
She was into charting too... was she??
Getting to an interesting stage methinks...
Cheers
........Kauri
I thought it when like the longer it stays above support ($800) the
more solid the support becomes.
It ill bounce.
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