RE: New Low for FAZCareful with that Gold short term as it is due to flash crash imo. Gold is in a long term bull mkt, but it has made a nice run for 10 years already. Long runs like this lead to large and sudden corrections. I have found that the flash crashes happen 6-10 days after a major peak. Today is day 4....
Golddigger, I had a look at oil over the weekend. I see the first support at $55 a barrel. Fair value for oil is around $20 in my opinion. I think the crash will drive oil down and overshoot on the downside. Eventually $5-10 a barrel is where it will bottom imo. This may sound extreme, but in the 1990's it was around $11 and just 2 years ago was $35. Of course this is not going to be an overnight process.
Everyone says growth in China will drive commodities, but the bubble in China is about to pop. The Chinese stock market topped years ago. I found it interesting that Wikileaks uncovered evidence that Chinese GDP was a fabricated number. No surprise.
SC