Probably not much to your surprise, the energy sector seems to receive the most fanfare when it comes to hot markets for 2006. Forecasts for crude to reach $67 per barrel by March are easy to find
As the media would have you believe it, gold is on an unstoppable downward spiral and no one is ever going to buy gold again. That's utter nonsense
If anyone thought that Friday's heart-stopping $100+ free-fall in gold was, well,... heart-stopping, they had better be thankful that they were asleep overnight, as the yellow metal fell some $130 and touched the $1,531
Selling of commodities intensified overnight after a brutal day on Thursday. Gold prices fell by more than $50 per ounce as they penetrated previous "must-hold" support numbers
Volatility remains high in the precious metals markets again today. Further concerns about European finances and an increase in margin requirements on the futures exchanges pulled the rug from beneath the metals prices
Gold and silver were caught in the headlights of the "Risk Off" juggernaut last week, the carnage was not helped by a poorly timed margin increase out of Comex and the Shanghai Gold Exchange
A day of recovery was apparently in the making in the precious metals markets as the complex opened solidly in the "green" against a pullback in the US dollar and rising optimism that Europe would live to see another day
Monday morning's markets saw a lower opening in gold but a tad higher values in the other components of the complex. Gold continued to be sold off and it lost $10.60 per ounce
It's pretty hard not to say we told you so. We've said to hide out in gold. Gold hit $1,800 today
We would not be surprised to see some temporary short term weakness in gold prices as the market absorbs the less-than-spectacular impact of the long term US debt downgrade