Follow the trends in oil, gold and currencies
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Commentary: Follow the trends in oil, gold and currencies
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- The big news is still the soaring oil price.
- We've watched oil prices quadruple over the past five years and now that levels have recently approached $50, the market's taking notice. While record oil prices are currently taking a breather, they could be headed to $60 -- and possibly higher. Why?
The bottom line is demand is soaring and there's serious concern about the supply
...
Go with the major trends
The oil price is now more important than ever for investors and so are events in the Middle East. Currently, the major trend will remain up even if the oil price declines to as low as $35.50 a barrel. That's not happening yet and until it does, we're looking at higher oil prices.
It's good to remember the major trends are most important. And as long as the major trends remain up for gold, precious metals, gold and silver shares, and the currencies, that's where your investment focus should be.
The gold and silver shares that currently look best are Newmont Mining (NEM: news, chart, profile), Silver Standard (SSRI: news, chart, profile) and Central Fund of Canada (CEF: news, chart, profile).
The currencies we like are the euro, Swiss franc and Canadian dollar.