Fed Week Ahead: May The Force Be With You...
Can gold escape oil’s death grip? That’s the question Kitco News’ technical analyst Jim Wyckoff, asked readers today and well…this is reallythe best way to sum up this past week. It was all about slumping crude with prices hitting another seven-year low Friday, at $35.35 a barrel, basis January Nymex futures. Oil’s demise is leading to a major slump in the raw commodity sector. But let’s be honest, the last 12 months alone have been pretty brutal for copper and crude oil – but some of our sources suggest that if China’s weakness has run its course, the end of the downward spiral may soon be near. We must remember, it was China’s irrepressible appetite that drove commodity prices sky high during 2004-2011.
In this edition of our newsletter, read about one fund manager who is expecting 2016 to be the year of fear. Reporter Neils Christensen interviewed Axel Merk, president & CIO of Merk Investments, who said, “Complacency is going to lead to fear.” He also noted that with the pending rate hike, the place investors will want to be is gold, read why.
Also check out our latest in treasure hunting news; the “Holy Grail” of shipwrecks was found off the coast of Colombia. The location of a more than 300-year-old shipwreck, which was believed to being carrying 11 million gold coins, was confirmed this week by Colombia’s President Juan Manual Santos.
For the full report, and many more exciting and relevant news stories,
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Originally Posted by Atlas Shrugged
