Friday, May 15, 2009
Here's the first update for the "Guess the Mid-Year Price of Oil and Gold" contest with all entries now appearing on a scatter-chart with the current price of oil and gold in yellow.
Let's see, after brushing up against the $60 mark earlier in the week, oil ended down sharply at around $56 a barrel, two dollars lower than a week ago. It might be losing any momentum it had built up over the last month along with a number of other asset classes.
Gold, on the other hand, was resilient in recent days, rising about two percent during the week as nearly everything else went down, ending at about $931 an ounce.
Current prices put PE's guesses ($57, $925) closest with BCD ($57, $912) not far behind and OMTM, MA, and oilcan hold the next three spots in the top five. All 81 guesses have been listed below, so be sure to see that yours is included (this is a manual, labor intensive process).
The averages were $59 for oil and $936 for gold and there are further details about the contest from this first post on the subject back on April 28th.
The chart at the top of this post will be updated on most Fridays between now and the end of June when the contest concludes. The winner will receive a free one-year subscription to the companion investment website Iacono Research where the model portfolio had a better week than most, down just 1.6 percent but still up almost 12 percent for the year.
A complete tally of contest guesses...
From the April 28th post:
From the May 5th post:
From the May 12th post:
Sent to Yahoo! mail:
Sent to IaconoResearch mail: