GOLD has to come back into play if OIL stay's above 120
Remember the price's currently are futures July so price reflection will be in August.
Those buying Gold now will see massive upside later half of the year.
GOLD looks cheap providing OIL doesnt go below 120.
Any downside below 120 on OIL is a sell on GOLD.
Gasoline 330 currently with retail at +dollar 430-470 retail.
Thats around 2dollars below what I see a top on Gasoline.
If your tank costs 80dollars to fill now in OZ add another 20-40dollars on top of that for August-November.
Tell me most people spending nearly a day's wage on petrol is not going hurt them and also consumer discretionary rising 20-40% on top of their food and goods bills.
Shorters beware GOLD will look cheap at the current price by December providing the governments dont step in stop speculation on OIL futures.
