Monday, August 22, 2011

Sell Gold --- Buy Oil?

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With gold prices hitting $1900 an ounce, trading 18% above its 50 day moving average and WTI oil/ Brent crude at a $26 spread...where will prices be going next? ITZ has noted several ratios and suggested buying oil via Proshares Ultra Crude Oil UCO read
In today's CNBC FastMoney show Tim Seymour, Joe Terranova, Guy Adami and Dennis Gartman discuss oil.

Dennis Gartman, of the Gartman Letter, shares his perspective on oil and gold as the situation in Libya unfolds.

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