Oil is now below $49.00. Looks like it's heading back to $40.00. Then where? Well, there's increasing supply and inventories are building up. But shhhh. I'd better not say. There'll be howls of protests from the Hot Copper proletariats. Gold actually rose last night in US dollar terms. But it's doing nothing in Australian dollars. Also ask the Sth. Africans if they think there's a gold boom going on. By the way all you Hot Copperites who are writing about the weak US economy might like to note the following. A chart was shown on Bloomberg for the last 16 years comparing the price of gold and US GDP. The conclusion the Bloomberg host made from the chart was that US GDP growth is good for gold. You'd better not hope the US economy starts to sink, which of course means seriously weakening GDP growth because based on that conclusion given to us by the Bloomberg host it will be no good for gold. You'd also better hope gold rises stronger than the US dollar weakens against other currencies otherwise you won't see any rise in the US dollar price of gold reflected in your gold share profits.
