Geopolitical Uncertainty
November 17, 2006
Can gold hold over $600 in the face of lower oil prices?
Financial Times, by Neil Dennis in Geopolitical Uncertainty
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Oil hits one-year low
"Oil prices continued to fall on Friday following an overnight rout that drove the benchmark US Nymex front-month contract below $56 a barrel for the first time in nearly a year.
Concerns that the northern hemisphere is due a mild winter at a time when US crude stockpiles remain well above five-year averages, spurred fund selling said energy strategists."
"The weakness in oil prices put gold under pressure with bullion retreating to $616.50 a troy ounce while silver fell to $12.67 a troy ounce."
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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