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793 Posts by Anonymous "asad":
 
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asad
London, UK
Posted Anonymously
15 years ago
Aug 10, 2009 12:54
In Thread: When Will GOLD Hit $1,050?
P.S. Am I the only one interested in oil around here? Can you please suggest a dedicated oil section on your website; or alternatively, the best oil guidance website you've come across (although I'm more comfortable having your guidance on it). Thanks!
asad
London, UK
Posted Anonymously
15 years ago
Aug 10, 2009 12:40
In Thread: When Will GOLD Hit $1,050?
Ashraf,

Thanks very much! It is really disturbing because oil should *not* have shot up to $70 (from $62) within a week anyway! Yes, agreed that SEC's comments on oil speculation retreated the price from $69 to $62 in two sessions, but there are *no* fundamentals supporting the $70 price. Strangely enough, it has been hovering the $70 mark for the past five sessions!

Do not ask me why...but I maintain that given the current economic scenario, oil should be around $63. Even inventory levels are high. OPEC reflects the same. Weakness in $$$ is fundamental, but more of an excuse, I believe. You reckon shorting oil at this stage?


Asad
asad
London, UK
Posted Anonymously
15 years ago
Aug 10, 2009 3:26
In Thread: When Will GOLD Hit $1,050?
Ashraf,

I follow your comments vehemently. Just wondering what would be a good level to enter crude again? I expect it to test around $65. Do you agree? Thanks!

Asad
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