More Downside for Gold and Oil; Commodity Report by Top Financial Newsletter Profit Confidential

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Gold and oil prices are having a really difficult time right now and Mitchell Clark, contributor to popular financial newsletter Profit Confidential, suspects that the falling price trend will continue for another month.

More Downside for Gold and Oil; Commodity Report by Top Financial Newsletter Profit Confidential

More Downside for Gold and Oil; Commodity Report by Top Financial Newsletter Profit Confidential

“Oil prices are going down because of a massive glut of oil in storage in the U.S. market and due to reduced expectations for global economic growth,” says Clark.

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Gold and oil prices are having a really difficult time right now and Mitchell Clark, contributor to popular financial newsletter Profit Confidential, suspects that the falling price trend will continue for another month.

In the article, More Downside for Gold & Oil Prices, as U.S. Dollar Moves Above its Fundamentals, Clark says that the spot price of gold is going down, because that commodity was due for a correction and because of strength in the U.S. dollar.

“Oil prices are going down because of a massive glut of oil in storage in the U.S. market and due to reduced expectations for global economic growth,” says Clark.

“So far during the recent price correction, the stock market is holding up well,” says Clark. If the S&P 500 Index broke 1,300, Clark says he’d be more concerned.

Clark doesn’t think the market is overpriced, as institutional investors will continue to buy dividend yield when the market retreats.

“As for gold and oil prices; being commodities, they could experience significant price swings for the rest of this year, even as part of a long-term uptrend,” says Clark. “It’s going to be very difficult speculating on the long side in gold and oil stocks over the next several months.”

Clark is waiting for a bottom in spot gold. When this happens, he believes speculators should jump all over gold-related investments.

“The only caveat is the risks associated with the euro currency,” says Clark. “Any breakup in the eurozone could have a cascading effect on currencies and the resulting ‘flight to quality’ would skew the U.S. dollar above its fundamentals.”

Clark notes that, as gold and oil prices tend to trade inversely to the U.S. dollar, spot gold could be down for a long time, because of the sovereign debt crisis and the resulting currency chaos.

Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market... before it plunged.

Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.

To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.

Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.

Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.

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