Is black gold (oil) leading a runaway inflation train?
*Bloomberg, by Grant Smith and Christian Schmollinger, May 16, 2008
“Oil Rises to Record Above $127 on Goldman Outlook, China Demand
Crude oil rose above $127 a barrel for the first time after Goldman Sachs Group Inc. raised its oil price forecast amid speculation Chinese diesel purchases will strain limited supplies.
Goldman boosted its crude-oil price forecast for the second half of this year to $141 a barrel, from $107, citing supply constraints. Chinese traders many increase diesel fuel imports to run generators after State Grid Corp. of China said 0.5 percent of China’s total power capacity remains shut after an earthquake on May 12.”
*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.
For 50 years, Monex has been America's trusted name in gold and other precious metals. With client transactions now totaling over $55 billion, Monex Deposit Company, established in 1987, is today America's premier precious metals dealer because of our dedication to customer service and satisfaction.