Tuesday, May 12, 2009
Today is the last day for entries in the sixth installment of the 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:
When this contest was first announced two weeks ago (see here and here for guesses to date and contest details), crude oil was at $50 a barrel and gold was just under $900 an ounce.
Since that time, both have gained about 20 percent.
It should be fun to see what happens over the next seven weeks - oil at $80 or $40 would both appear to be reasonable guesses at this point. As for gold, who knows?
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 June 30th.
The closing price for the near-month (August ) 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 the end of last year:
A new graphic will be provided in the days ahead containing all the entries for the current contest and then regular updates will occur between now and the end of June.
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 June 30th - good luck to all!