We are seeing absolutely wild trading in oil, gold, silver and stock markets.
Wild trading
March 10 (King World News) – Otavio Costa: Wild.
A $35 swing in oil prices in one day.
Smells fishy…
KING WORLD NEWS NOTE: There was something fishy about trading in the oil market on Monday as the price of oil saw a $35 trading range. The truth is the West jawboned the market lower, but did absolutely nothing to stop the advance in WTI & Brent crude. This is a new bull market that has a long way to go on the upside.
Oil and gas stocks know it is a new bull market
Oil and gas stocks held up remarkably well despite all this.
A reminder that silver experienced similar volatility and is now settling at levels well above any point in history.
I remain a long-term holder of energy equities.
The investment case here is far from over in my view…
Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.
Oil
Peter Schiff: Oil reversed sharply from overnight highs above $119, first on comments of a coordinated release of oil from strategic petroleum reserves and then following comments from Trump that the war will likely be over soon. These stories drove profit-taking, but the trend is still up.
Oil prices and higher inflation
Peter Schiff: Soaring oil prices won’t cause higher inflation. They will cause a recession. It’s the fiscal and monetary policies that will follow soaring oil prices that will cause higher inflation.
Nice one!
Ronnie Stoeferle: Nice one by @topdowncharts, found in the latest post by the great @TheBubbleBubble:
KING WORLD NEWS NOTE: The bull market in gold also has a long way to go on the upside as a very small percentage of global assets is invested in gold.
Energy Crisis And Global Food Crisis
Jeroen Blokland: The massive implications of a prolonged closure of the Straight of Hormuz are underestimated. An energy crisis could quickly turn into a global food crisis, as the closure will drive up food prices worldwide due to higher fertilizer costs, which, in turn, depend heavily on natural gas prices.
KING WORLD NEWS NOTE: An energy crisis could quickly escalate into a global food crisis.
Whoops
Albert Edwards: Whoops! Ambrose Evans-Pritchard of the Telegraph points out that “The president promised to fill the US strategic petroleum reserve ‘right to the top’ when he took office. He didn’t.”
KING WORLD NEWS NOTE: The US did not fill its strategic reserves when oil was cheap. It will now have to do so at much higher prices.
To listen to Alasdair Macleod’s latest audio interview discussing gold, silver, soaring oil prices, the war and more CLICK HERE OR ON THE IMAGE BELOW.
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The Next Big Bull Market Is Already Underway CLICK HERE.
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Colombo Says, Despite Volatility, Silver Price Headed To All-Time High CLICK HERE.
Get Ready For More “Transitory” Inflation After Iran Attack, Plus A Look At Gold Miners CLICK HERE.
The Dollar Is Going To Zero And It Will Take All Fiat Currencies With It CLICK HERE.
Gold Price $5,250 As Silver Futures Hit $94, But Look At This… CLICK HERE.
The Latest From The Big Boys On The Gold Market CLICK HERE.
US Strike On Iran Could Unleash World War III CLICK HERE.
Michael Oliver – Historic Breakouts Will Now Send Gold & Silver Prices To Levels That Will Shock The World! CLICK HERE.
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