It is 6:48 am, the ole Colonel is on his second cup and it looks like a good day in early morning trading. General Moly continues its winning streak at $1.38 up another 5% from yesterday. Barrick and Newmont are moving sideways at $32.99 and $46.05. April contract for gold is up $7.00 at $942.8.
My good buddy Eric tells me the new
Last June, geopolitical concerns could move oil $10 in a day; nowadays it's hardly worth a buck. Futures opened around $54, up again from yesterday. High oil is bad for mining's bottom line resulting in higher operating costs. In this goofy environment, however, low oil prices could erode the company’s top line revenue. There is general consensus that $25 sweet crude means the world economy is in deep doo-doo with a lower demand for raw materials.
T. Boone Pickens predicted the other day that oil would see $60 before $40 and hit $75 before the end of the year. Not too many folks have gotten rich betting against this