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Oil Prices
Posted by admin on October 28th, 2009 filed in Gold against Oil
This is a short 6 minute video from CNN on the history of oil prices and why we no longer use gold to settle our foreign debts. Excellent brief on the subject.
Duration : 0:6:9
October 28th, 2009 at 9:59 am
global markets are …
global markets are down sharply again overnight as more bad news about the US economy hit commodity prices and some speculated unwound their bets after the Fed’s move yesterday.
The price of oil fell $6 a barrel to $103 and the price of gold slumped $60 an ounce to 960 dollars.
Investors are worried the US slowdown will reduce demand for raw materials used in manufacturing and for energy.