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Will the Oil price rout be repeated (in reverse) in Gold? Time to get the beer in the fridge?

By Nigel Somerville | Wednesday 22 April 2020

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Peter Schiff puts an interesting question in his latest podcast here in relation to the rout of Oil futures this week: could it happen in reverse with gold? The action of the oil market this week has been terrifying. Or at least it should be, as a barometer of what is to come in the holed economy purportedly as a result of Coronavirus, although I would argue the issue is more of a giant everything bubble that was waiting for a pin. Well, the pin duly arrived and our very own Peter Brailey has covered himself in glory, correctly predicting negative oil prices. So what is Peter Schiff’s point?

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