Do you think that commodities like gold will go up next week?
Friday, January 30th, 2009 at
5:27 pm
sandeesbro asked:
With OPEC’s probable cuts, and the also probable cuts by the fed, plus I heard that China decided to print up some more money, don’t you think it will drive up the prices of commodities like gold?
With OPEC’s probable cuts, and the also probable cuts by the fed, plus I heard that China decided to print up some more money, don’t you think it will drive up the prices of commodities like gold?
Tagged with: China • Opec • Print Money
Filed under: Commodity Trading
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not for about 4 years
1. A OPEC vote requires action of poor states like Mexico, and all those African states that in the past have produced any way which is why I sold my oil futures. They are also find new major oil reserves, and non OPEC oil production is up 62% while OPEC states only control 32% of the oil.
2. China is printing money cause they have a 21% decrease in exports for the year, and 42% decrease in GDP. The have to print money to keep the lights on, and even pay their troops to keep the police state going.
3. If inflation was a factor it would be a great issue to have in this environment, but deflation devalues commodities. With China’s Exports dropping for the first time in 27 years with a stock pile of commodities. China has to sell commodities to survive that will cause the prices to crash, and is the reason prices are starting to fall at store.
I would not count on it!