Just saying, with the supposed upturn in the economy, demand for oil should be increasing. Yet oil prices are falling. Yet more evidence that there is real doubt in the market that a lasting recovery is underway?
1) Both can happen, simultaneously. 2) Oil and gold are driven by excessive speculation, not "economic fundamentals". 3) Each of those markets needs a cold shower to wash away some of the "hot money" that is invested there.
Well I can buy that idea for year end redemptions and profit taking for PnL purposes for hedge funds, etc.
Prices go up and down, short term and long term. It reacts to news, expectations, supply/demand... Reading into this means very little. This is not really evidence of anything
Do you feel that way about gold too, that the price action as of late is not evidence of anything? Serious question.
Was the "up price action" in Gold any evidence of anything? Then why should it be any different on the way down.
I see, so we're all clear here. Prices don't mean anything, at any point in time. It's just relative changes in priceyness, with no relation to reality or any particularness of thingyness. Just good ol' priceyness. Do I have that right? Lemme know. This is the economics forum right? Hello? Is this thing on?