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Gold News from Kitco! Will gold continue to go up??
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<p>[QUOTE="GoldFinger1969, post: 3710566, member: 73489"]If there is a shock like that, yeah, there would be an impact. But you are talking about CORRELATION in the past and while the two have tracked for weeks or months at a time, overall -- especially of late -- the correlation is very low.</p><p><br /></p><p>The factors that would push oil to $130 -- supply shock, not global demand increasing -- would negatively affect MINERS but not necessarily impact the price of gold. It MIGHT -- but it's not a 1-to-1 lock.</p><p><br /></p><p>The price of gold has detached from the performance of the mining stocks, as you are probably aware.</p><p><br /></p><p>It depends on WHAT moves the price of oil, not the move itself. Is it a supply or demand move ? Big difference.[/QUOTE]</p><p><br /></p>
[QUOTE="GoldFinger1969, post: 3710566, member: 73489"]If there is a shock like that, yeah, there would be an impact. But you are talking about CORRELATION in the past and while the two have tracked for weeks or months at a time, overall -- especially of late -- the correlation is very low. The factors that would push oil to $130 -- supply shock, not global demand increasing -- would negatively affect MINERS but not necessarily impact the price of gold. It MIGHT -- but it's not a 1-to-1 lock. The price of gold has detached from the performance of the mining stocks, as you are probably aware. It depends on WHAT moves the price of oil, not the move itself. Is it a supply or demand move ? Big difference.[/QUOTE]
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