I did a couple of pieces which I put as Blogs, on my opinion regarding Worldwide Economic Recovery.
Anyone reading my website may think there is no clear-cut answer as regards the price of Gold. I have mentioned that it may go to $2,000 in one-two years' time.
But in the meantime....Mining companies were shorting under $1700, jewellery demand stops around $1650. For it to be something more people can afford for ornamental purposes, really the price will move downwards for the moment.
The reknowned commentator Mr Komal Sri-Kumar stated recently that he sees Gold going to $1300 an ounce. I agree. At that price, jewellery will regain its social value.
Currently it is around $1600, so the price will move in down and up steps.
As regards the price of Oil. I have been saying for a long time that it should be under $85 a barrel to help the economies. Now it is $82 or so. But to help the world economies regain ground, because the price was above $85 for so many months,the price I believe needs to be around $70 a barrel for three months or so.
This will create more opportunities for traders, more satisfaction for consumers, and more talking points for fellow commentators.