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Message: Oil down another $3.50 to $121

Re: Oil down another $3.50 to $121...not so bad

posted on Jul 29, 2008 08:56AM

Pic - "Gold has obviously followed oil down,"? With all the history on this and other boards behind you, you can not mean that statement. It is obvious to me and should be to just about everyone that it is not so.
While oil has some influence on gold price, gold is being manipulated irregardless of what is happening with the oil price. Greater linkage to currencies, imo.

The current retreat in oil is just a temporary seasonal adjustment, gasoline usage while seasonally should be high, the price of gasoline has put on a damper on it and heating oil is obviously seasonally at a ebb, but come fall heating will revert and oil will probably come with a new vengeance.
The cartel is seen as further wounded and in desperation mode so the signs are adding up to a higher crescendo.
Do not get enamoured with the daily fluctuations. As GWR's post (charts) just showed gold is on an upward tear no matter what the oil price.

This is your conscience speaking, Cheers! ( Keep up the good work.)

(p.s. - I have the same problem with my relatives and friends regarding saving value, only one has the same view, remainder are asleep and nausiated by my comments. )

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