Thursday, October 23, 2008
Today is the last day for entries in the fifth semi-annual "Guess the price of oil and gold" contest - be sure to get your guesses in by midnight PST today or they will not be accepted. Here's one last look at the historical chart:
Not surprisingly, there has been almost as much movement over the last three months as in the last three years - much of it coming in just the last two weeks!
At some point, the recent direction will surely reverse - the question is when.
A free one-year subscription to the companion investment website Iacono Research will be awarded to the contestant with the lowest combined percentage error between their guesses and the prices for these two important commodities on December 31st.
The closing price for the near-month (February) NYMEX futures contract for WTI crude oil and the closing price for spot gold on the COMEX will be used.
Here's one last look at how things ended up at mid-year:
I can't imagine what the scatter chart is going to look like this time...
A new graphic will be provided either tomorrow or early next week containing all the entries for the current contest and then regular updates will occur between now and the end of the year. See the contest kickoff post and last week's reminder for further details.
Entries may be made either by posting them in the comments section of this post (or either of the prior two posts above) or sending mail to either tim-at-iaconoresearch.com or tliacono-at-yahoo.com.
The winner will be announced on December 31st - good luck to all!