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"You see, I expect the GOR to revert to at least 15 at some point, and I see more reason for paper gold to do most of the work getting there than oil. But even if oil rises all the way to $50/bbl. this year, a GOR of 15 puts gold at $750, and don't forget the intra-year overshoot. More likely, I think, oil may test the $20s and $40s, and then stay somewhere in the $30s or low $40s. So if we had an average GOR for the year similar to 1990 which was 16.538, and oil averaged $40 for the year, that would mean an average $POG for the year of $661.52. And if the intra-year overshoot was similar to 1990 at 9.5, then that would mean an intra-year low of $380 for gold. If, on the other hand, oil averaged only $35 for the year, a GOR low of 10 would mean a gold price of $350. "
"You see, I expect the GOR to revert to at least 15 at some point, and I see more reason for paper gold to do most of the work getting there than oil. But even if oil rises all the way to $50/bbl. this year, a GOR of 15 puts gold at $750, and don't forget the intra-year overshoot. More likely, I think, oil may test the $20s and $40s, and then stay somewhere in the $30s or low $40s. So if we had an average GOR for the year similar to 1990 which was 16.538, and oil averaged $40 for the year, that would mean an average $POG for the year of $661.52. And if the intra-year overshoot was similar to 1990 at 9.5, then that would mean an intra-year low of $380 for gold. If, on the other hand, oil averaged only $35 for the year, a GOR low of 10 would mean a gold price of $350. "
[text] If the Gold/Oil Ratio Falls Back to Its Historical Average, the Gold Price Could Drop to $700
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