Alert! US Crude hits $100, Gold reaches new record

Alert!:US Crude hits $100

Oil surged above $99 a barrel to a new intraday high, as the dollar weakened and renewed violence in oil exporter Nigeria revived worries of tightening supplies.

U.S. crude resumed its march towards triple digits, gold rallied to a record high and platinum hit an all-time record amid expectations of new investor money flowing into commodities.

(visit the link for the full news article)



[edit on 2-1-2008 by infinite]

So, the $100 has just been broken.

How high can we go? Some feel we could even reach $200!

I'd like to know how long this will remain at $100, whether it's just a couple of minutes or days, who knows.


(visit the link for the full news article)

wtf?!!

Gold reaches new record

ear with bullion prices pushing past the previous high of $850 a troy ounce reached in January 1980.

Gold pushed to $859.30 a troy ounce on Wednesday, helped by renewed US dollar weakness after the influential ISM manufacturing survey indicated that activity contracted in December, fuelling fears that weakness in the housing market is spreading into the wider economy.

FT

I Knew it was going to happen this week the first week of the new year.

I predicted this months ago,!!!!!!!!!!!!!!!!!!!!!!!!!!!

Recession!!!!!!!!!!!!!!!!!!!!!! our Nation is going into recession.

All that holiday spending on credit, the housing crash and still 400 billion on mortgages that still unaccounted for hidden by banks and the Dow already in the negative by almost 200 points.

Get ready people is here and its going to hits us like tsunami.

Where is the feeeeeeed!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

99.47 dollar is the highest I saw till to this moment.

Where did you see that it hit the 100 dollar mark!?


[edit on 2-1-2008 by g210b]

Aye, you haven't provided a source link to your first post, infinite.

The markets are predicting 100 dollars by the end of the day that is where is coming from.

You people don't get it, this about record prices 99 dollars is record price, listen to the markets and read about all that is coming to hits Americans consumer right on the head!!!!!!!!!!!!!!!

According to the BBC a single trade was made at $100 before prices fell back to just below that price? BBC

Given the house price falls in the UK along with the warnings on jobs that we have has recentely it is possibly a world wide resecion (sp) or even worse depresion that we are faceing now?

reply to post by TheoOne


biz.yahoo.com...

There's your link. This was obviously coming up. Just look at how the price has flirted with $100 most of December. The only thing holding it back was some sort of physcological barrier that people had around the holidays. Now that there's a new year, the sky is the limit.

This isn't just speculation. Demand is increasing while supply is flat or declining.

www.reuters.com...

On the New York Mercantile Exchange at 12:17 p.m. EST, February crude was up $2.67 or 2.78 percent at $98.65 a barrel, trading from $96.05 to $100.00, a record front-month high, eclipsing the previous record of $99.29 hit November 21.

one link for you

Now that the Bushladins jacked the Nation and most of the world,
When do we get our chip implants.

I believe it hit $100 for a brief moment, but there is a pressure building to keep it above the record high. The markets certainly are priced for it. Investors see it going even higher.

Good lord!

The Dow is taking a dive. Ekkk!!

Y'all can track oil futures here. Check CL.G08 - February Contract high: 100.00

ATB!

yes oil prices are up but will gas prices spike any time soon

they have been rather steady (in s.fl) and sometimes the speculatation that fuels the "100 oil" thankfully doesn't spill over to consumers.

but likely it will just gradually and IMO be around 3.50 by spring and 399 by summer we shall see

i read an economist clive maud w/ a piece titled "no way back" (i believe) and he wrote regarding the u.s current situation as a debtor nation to the world and used the metaphor when you owe the bank 10000$ you are in trouble, when you owe them 100,000,000 they are in trouble. Well apparently the world is in trouble because we owe them big time, and he postulated that the Fed's designed this mess knowing full well the consequences and that a deflationary depression by way of credit crunch and half as*ed "liquidity injection" would hurt the rest of the world more than the u.s and would take down the two biggest rivales the European Union and China, while we stumble mightily but survive. intresting thoughts not that i buy it in this era of supra national globalization but intresting none the less.

GOLD IS GOING UP this appears to be a LOCK! . BETTER BUY IT IN JEWELRY, so they can't take it, if the civil unrest reaches a boiling point



[edit on 2-1-2008 by cpdaman]

you know, if we didn't have a monetary system.... =)
i wish it were as simple as just getting rid of money. money isn't just a convenient bartering tool anymore - it also serves as a throttle of sorts for consumption.

on the bartering end, you would have people wondering what incentive they have to go to work. even if the world population had the mindset of needing to provide a service to others to keep the world turning, they would also need to learn how to not take any more than they need. otherwise we'd have a world of people living the high life until everything was simply used up.

a little off topic, but that's a thought tangent i went off on when pondering the possible impending depression.

Originally posted by infinite
Good lord!

The Dow is taking a dive. Ekkk!!

More firghtening but not surpriseing is that the dollar picked up it's deep diveing again. This alone already explains a good part of the increasing Oil and Gold prices. It's interesting to observe this connection in play. I observe this since some month.
And yes I guess we will see a troubeling year 2008 for the economie and the stock marked.

Originally posted by OBE1
Y'all can track oil futures here. Check CL.G08 - February Contract high: 100.00

ATB!

Wow!

future show it near $100 for nearly half of the year!

Ahhhh! the comfortable glow of smug satisfaction of not owning a gas-guzzling car or having a mortgage or credit/loan debt is warming me already...bring on the reccesion!

MNI posted the $100 had been broken, then 2 minutes later this:

BULLET: OIL: Clarify, high print in electronic trade at......
OIL: Clarify, high print in electronic trade at $99.58.

so it is still a question if it has yet happened.