Wikinvest Wire

Oil and gold contest update #2

Friday, November 02, 2007

Though no scale adjustment was required for the chart below (that would make for an interesting side bet), prices have moved up quickly since the last contest update.
With oil at almost $96 per barrel and gold at $806 per ounce, it's hard to imagine that prices could go even higher, but that's the same thing that many people were thinking a couple weeks ago.

Given what's gone on over the last few months, current prices are starting to feel almost normal now.

For some perspective, recall that when the mid-year contest concluded just four months ago, oil fetched only $70 and gold was still below $650. About a month ago when the current contest began, oil was at about $80 and the yellow metal was at about $730.

It's been an impressive run for both commodities.

Looking good at the moment are SC, IIO, VP, bBdaBeerman, and CP. It should be noted that TJ and Da Bear is (are) in the top ten! And, lastly, Rob Dawg's Euro guesses have been converted to dollars, placing him in the middle of the pack.

The winner receives a free one-year subscription to Iacono Research where the model portfolio is now up a whopping 28 percent so far this year.

AddThis Social Bookmark Button
To learn more about investing in natural resources using commonly traded ETFs, stocks, and mutual funds, see this description at Iacono Research. Or, sign up for a free trial.

5 comments:

Rob Dawg said...

Excuse me but in my Euro denominated bet they've hardly budged. I'm not trying to be a jerk here but I think any gold/oil guesses are going to end up being USD guesses instead.

Seriously, the gold/oil matrix has already decoupled to a small extent. When I guessed in Euros I wasn't trying to be disruptive or snarky. I just thought I could be more precise by eliminating a wild card.

Tim said...

I understand your quandry - you probably should have guessed in dollars. I'll add this as the second agenda item on next week's "Guess the year-end price of oil and gold" contest steering committee meeting.

Seriously, I'm open to suggestion as to what should be done with your guesses.

Anonymous said...

Tim,

Just let the peeps wager in any currency they want but show it in USD. There must be some freeware that can handle it.

Tim said...

I'll just do a currency conversion on the euro guess on the last day of the year and that should do the trick.

TJandTheBear said...

Geez, that's what I get for taking a "reasonable" stance -- being wayyyy too early. I claim temporary insanity!

IMAGE

  © Blogger template Newspaper by Ourblogtemplates.com 2008

Back to TOP