Why did Oil & Gold stocks rise today?

Neutral · 13 August 2008

I don't understand why oil & gold stocks rose today. They have both been in a steady decline in the last week or so but both reversed commodity stocks reversed today.

My question is, why? Was it because of the futures price? (If so where do I find these prices?) Is it because the financials didn't fare well today so investors wanted to move their money elsewhere?
The news on tv just mentioned gold and oil commodities lost some ground, but then I see the commodities chart (on tv) and it shows them on the up in green territory. Now I'm really confused! If someone could answer this for me it would be a great help.

Thanks

Neutral

Whiskers · 13 August 2008

Neutral said:
I don't understand why oil & gold stocks rose today. They have both been in a steady decline in the last week or so but both reversed commodity stocks reversed today.

My question is, why? Was it because of the futures price? (If so where do I find these prices?) Is it because the financials didn't fare well today so investors wanted to move their money elsewhere?
The news on tv just mentioned gold and oil commodities lost some ground, but then I see the commodities chart (on tv) and it shows them on the up in green territory. Now I'm really confused! If someone could answer this for me it would be a great help.

Thanks

Neutral

Have a look at the 'Oil Again' and 'Gold' thread. Lot of good info there.

My short explination is I believe gold has hit bottom and bounced up after a lot of reorgination of 'books' since the USD is on the way up again.

Oil has been relatively steady for a couple of days, ie probably giving the impression it has stabalised, but in my estimation is just looking for a bit of a consolidation (corrective leg) before the next leg down.

creditscore · 13 August 2008

for the past few months the prices of oil was too high...and im glad that

there is a roll back price for oil and petroleum products on this month..

brty · 13 August 2008

Hi,

Why did Oil & Gold stocks rise today?

Because Gold reached a bottom and is heading up for a period, with crude and the $A beating to the same drum.

You will often find gold stocks react to a movement before it happens.

bye

So_Cynical · 14 August 2008

Perhaps a perception that they were a little over sold and looked like
good value, most gold and oil stocks have fallen around 25% recently.

LGL certainly looked like value...all things considered.

Why did Oil & Gold stocks rise today?

Neutral

Whiskers

It's a small world

creditscore

brty

So_Cynical

The Contrarian Averager

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Why did Oil & Gold stocks rise today?

Neutral

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creditscore

brty

So_Cynical

The Contrarian Averager

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