Gold-Oil Ratio Declines to Lowest Since 2008: Chart of the Day – Bloomberg 07-10-13

Salient to Investors:

Crude oil is trading at the highest price relative to gold in more than 4 years.

John Stephenson at First Asset Investment Mgmt said oil has real supply and demand dynamics, and there is a strong argument for prices holding up because the US has clearly has turned the corner, and tapering talk has put gold out of favor.

EIA expects oil to average $94.65 a barrel in 2013. Goldman Sachs expects gold to end 2013 at $1,300 an ounce.

Read the full article at  http://www.bloomberg.com/news/2013-07-10/gold-oil-ratio-declines-to-lowest-since-2008-chart-of-the-day.html

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