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Crude oil, gold drop after sentiment data

The Wall Street Journal -- NEW YORK (MarketWatch) -- Crude oil and gold futures turned lower in morning trade Friday after a survey showed U.S. consumers were less optimistic in March. Crude oil for April delivery was down 2 cents at $82.09 a barrel in electronic trade. It earlier rose to a high of $83.20 a barrel, lifted by the International Energy Agency's forecast for higher global oil demand. Gold for April was down 1.10, or 0.1%, at $1,107.10 an ounce, off a morning high of $1,119.50 an ounce.

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Submitted Mar 14, 2010 By: billbearAL

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uglytom Champion Author Florida Posts:3,121 Points:683,115 Joined:Jul 2007	Message Posted: Mar 14, 2010 7:20:12 PM Ignore uglytom Report Abuse Do not ever see fluctuations DOWN on gas prices no matter how low crude drops!
aldog365 Champion Author Nashville Posts:1,046 Points:1,145,360 Joined:Aug 2005	Message Posted: Mar 14, 2010 7:15:49 PM Ignore aldog365 Report Abuse Gold prices flucuate with the dollar.oil does too.Our dollar is worth less every day.
TerryLee Champion Author Ohio Posts:11,392 Points:2,144,940 Joined:Mar 2004	Message Posted: Mar 14, 2010 7:15:01 PM Ignore TerryLee Report Abuse so why are the pump prices going up?
ModelWarships Champion Author Missouri Posts:1,901 Points:458,015 Joined:Jul 2008	Message Posted: Mar 14, 2010 7:14:30 PM Ignore ModelWarships Report Abuse that evil Bush and Darth Cheney are still pulling the strings. 0bama is powerless to stop them, all he can do is try bravely to get the dead beats free health care and a carbon tax to put the brakes on the US economy even further.
snofog All-Star Author Seattle Posts:623 Points:92,655 Joined:Jan 2010	Message Posted: Mar 14, 2010 7:14:18 PM Ignore snofog Report Abuse Wow.
FordF2502001 Champion Author Mississippi Posts:3,077 Points:668,125 Joined:Sep 2008	Message Posted: Mar 14, 2010 7:09:15 PM Ignore FordF2502001 Report Abuse Man. Unbelievable. Still blaming Bush. Can't you do better than that. At least blame all this on fox news or something in the recent past. Obama ownes it all now. He can't even get the majority in congress on his side.
divebomber Champion Author Nebraska Posts:1,234 Points:846,705 Joined:Jun 2007	Message Posted: Mar 14, 2010 7:07:58 PM Ignore divebomber Report Abuse The only way oil will come down is getting out the ole bicycle!
cj003 Champion Author Michigan Posts:1,390 Points:979,725 Joined:Mar 2006	Message Posted: Mar 14, 2010 7:05:14 PM Ignore cj003 Report Abuse both gold and oil prices are still out of sight.
nigelb Champion Author Virginia Posts:3,502 Points:528,465 Joined:Feb 2008	Message Posted: Mar 14, 2010 7:01:58 PM Ignore nigelb Report Abuse DellMan - You must have forgotten that our economic mess started under Bush!
suzyq2007 Champion Author Dallas Posts:2,814 Points:780,050 Joined:Oct 2007	Message Posted: Mar 14, 2010 7:01:51 PM Ignore suzyq2007 Report Abuse both are way too high
DustyHorse Champion Author Virginia Posts:1,552 Points:509,865 Joined:Oct 2008	Message Posted: Mar 14, 2010 7:01:49 PM Ignore DustyHorse Report Abuse Gas prices are still going up daily here in Northern Virginia.
Weirdomania1 Champion Author Orange County Posts:2,794 Points:516,465 Joined:Jan 2008	Message Posted: Mar 14, 2010 7:00:05 PM Ignore Weirdomania1 Report Abuse it's all just smoke and mirrors... whatever they want...
nojsts Champion Author St. Louis Posts:14,043 Points:2,828,980 Joined:May 2002	Message Posted: Mar 14, 2010 6:59:37 PM Ignore nojsts Report Abuse Down 2 cents. Whatever.
DancingDee Champion Author Gary Posts:2,641 Points:683,605 Joined:Jul 2005	Message Posted: Mar 14, 2010 6:52:12 PM Ignore DancingDee Report Abuse NO SURPRISE!
Helms Champion Author Fort Worth Posts:4,254 Points:1,227,750 Joined:Jun 2005	Message Posted: Mar 14, 2010 6:51:41 PM Ignore Helms Report Abuse for now...the overall trend for the next 4 months is up!!!!
DellMan Champion Author Omaha Posts:1,917 Points:442,925 Joined:Apr 2008	Message Posted: Mar 14, 2010 6:50:42 PM Ignore DellMan Report Abuse I couldn't have said it any better nd73. The sooner we put a stop to OB, Nancy and Harry the sooner the economy will start to really recover. There is a direct correlation between their plans and the market drops and oil price increases. They speak the market drops and oil prices climb.
yukonjack Champion Author Georgia Posts:4,404 Points:1,141,995 Joined:Oct 2004	Message Posted: Mar 14, 2010 6:49:00 PM Ignore yukonjack Report Abuse RockCity... neither. the dollar floats on its own, buoyed and sunk by trade deficits, trade surpluses, wars, peace, etc.
storm254 All-Star Author Maryland Posts:726 Points:328,000 Joined:Sep 2005	Message Posted: Mar 14, 2010 6:44:47 PM Ignore storm254 Report Abuse Without the speculators, the price of crude would be much more realistic, and the price at the pump would be sane.
RockCity Champion Author Denver Posts:2,717 Points:484,845 Joined:Mar 2009	Message Posted: Mar 14, 2010 6:42:26 PM Ignore RockCity Report Abuse Are dollars backed by gold or oil?
Xpoint Champion Author Idaho Posts:5,337 Points:693,625 Joined:May 2004	Message Posted: Mar 14, 2010 6:38:17 PM Ignore Xpoint Report Abuse Pretty soon gold and gas will be the same price.
DellDude2 Champion Author Nashville Posts:4,001 Points:1,153,435 Joined:Aug 2005	Message Posted: Mar 14, 2010 6:36:56 PM Ignore DellDude2 Report Abuse I wish I'd bought some gold when it was dirt cheap, about 10 years ago.
rsm315 All-Star Author Detroit Posts:838 Points:219,530 Joined:Dec 2009	Message Posted: Mar 14, 2010 6:32:32 PM Ignore rsm315 Report Abuse stop these speculators
SUPERQUACK Champion Author Sacramento Posts:1,472 Points:987,100 Joined:Jun 2007	Message Posted: Mar 14, 2010 6:26:58 PM Ignore SUPERQUACK Report Abuse DOESNT MEAN ANYTHING ......
MidNJ Champion Author New Jersey Posts:1,654 Points:252,485 Joined:Sep 2009	Message Posted: Mar 14, 2010 6:24:20 PM Ignore MidNJ Report Abuse As with all futures traders, speculation is what the game is about. When the price goes "up" all buy, buy, buy. Once the price goes down it is - sell, sell, sell. So ask yourself, why was oil approaching $150 a barrel and houses cost many times their value two years ago? And then the Bush bubble burst. Last year I bought gas for $1.33 a gallon and my house was lost 2/3 of it's value. Why, because of speculators. Don't forget the quote, "Buy low, sell high".
Blackice Champion Author Twin Cities Posts:3,191 Points:806,490 Joined:Oct 2003	Message Posted: Mar 14, 2010 6:23:43 PM Ignore Blackice Report Abuse nd73...WOW!!!
Jeff1944 All-Star Author South Dakota Posts:844 Points:214,185 Joined:Jan 2010	Message Posted: Mar 14, 2010 6:21:10 PM Ignore Jeff1944 Report Abuse One day summary is not a trend. What is the last 6 months trend? Thanks.
pliskin Champion Author Syracuse Posts:3,204 Points:980,035 Joined:Apr 2005	Message Posted: Mar 14, 2010 6:14:27 PM Ignore pliskin Report Abuse They're still subject to market speculation.
nd73 All-Star Author Grand Rapids Posts:638 Points:332,135 Joined:May 2007	Message Posted: Mar 14, 2010 6:14:19 PM Ignore nd73 Report Abuse The investment brokers put their money where they think they will get the best return at the lowest risk. The problem is that the US economy is in the tank, so the US dollar is weak. Thus, the fund managers are less willing to risk their investments in the stock market and instead buy oil futures. Want to stop the wild oil price fluctuations, get the big BO in Washington to stop dinking around with trying to control our lives via the health care industry, the financial industry, the auto industry, etc, and concentrate on getting Americans back to work. Once our economy gets back on track, the investors will again support the stock market and pull out of the oil futures, and prices will again reflect reality. Unfortunately, the socialists currently controlling our government will never understand the free market system, so the above scenario will not occur until the Democrats are no longer in power. Change you can believe in, starts in the voting booth in November!!
BKool Champion Author Michigan Posts:3,025 Points:1,439,920 Joined:Aug 2005	Message Posted: Mar 14, 2010 6:14:09 PM Ignore BKool Report Abuse A temporary drop.
Chummy37 All-Star Author Calgary Posts:853 Points:457,535 Joined:Jan 2008	Message Posted: Mar 14, 2010 6:13:15 PM Ignore Chummy37 Report Abuse Good!
HA4CNN All-Star Author Toronto Posts:991 Points:596,340 Joined:Dec 2006	Message Posted: Mar 14, 2010 6:07:39 PM Ignore HA4CNN Report Abuse Prices will go to what ever the market will bear.
mackconsult Champion Author Portland Posts:1,275 Points:270,585 Joined:Jan 2009	Message Posted: Mar 14, 2010 6:04:59 PM Ignore mackconsult Report Abuse this is true
virginia52 Champion Author Alaska Posts:4,013 Points:793,660 Joined:May 2007	Message Posted: Mar 14, 2010 5:57:37 PM Ignore virginia52 Report Abuse Don't worry, I'm sure the oil companies will pay the speculators to drive the price of oil up soon.
REKEY Champion Author South Carolina Posts:3,652 Points:731,425 Joined:May 2008	Message Posted: Mar 14, 2010 5:56:56 PM Ignore REKEY Report Abuse All the bailout groups are back at it again.
amearly Champion Author Michigan Posts:7,211 Points:1,498,520 Joined:Jan 2006	Message Posted: Mar 14, 2010 5:53:40 PM Ignore amearly Report Abuse Same people that got us into this recession with all there manipulation of the market.
dbatw Champion Author St. Louis Posts:1,686 Points:341,165 Joined:Apr 2009	Message Posted: Mar 14, 2010 5:53:36 PM Ignore dbatw Report Abuse this has absolutely nothing to do with the price of gasoline at my local pump: these speculative clowns will do what they do no matter what I say and they will read their tea leaves and behave like the mass hysterics they always are.
humblepie Champion Author Toledo Posts:7,995 Points:1,397,965 Joined:Mar 2006	Message Posted: Mar 14, 2010 5:52:21 PM Ignore humblepie Report Abuse we leared to drive less and buy smaller cars, now if we can just change congress we may come out of this recession yet remember in november !!!!!!!!!!!!!!!!!!!!!
Diesel_Ram Champion Author Dallas Posts:1,718 Points:556,925 Joined:Jan 2009	Message Posted: Mar 14, 2010 5:52:13 PM Ignore Diesel_Ram Report Abuse With all the crude on the market and supplies at a high, prices at the pump should be no more then $2 a gallon.
FPLREP Champion Author Virginia Posts:3,370 Points:1,500,810 Joined:Oct 2005	Message Posted: Mar 14, 2010 5:51:25 PM Ignore FPLREP Report Abuse Down a whole 2 cents! Wow I guess we got our two cents worth.
la90042 Champion Author Los Angeles Posts:2,402 Points:505,405 Joined:Nov 2008	Message Posted: Mar 14, 2010 5:51:22 PM Ignore la90042 Report Abuse oil still way too high - should be below $70, but we are suckers to keep paying the higher prices
MINER Champion Author Pittsburgh Posts:8,442 Points:2,472,170 Joined:Jul 2002	Message Posted: Mar 14, 2010 5:51:19 PM Ignore MINER Report Abuse Where do these rosy forecasts come from in the first place....
oldiesman Champion Author New York Posts:1,667 Points:1,264,185 Joined:May 2006	Message Posted: Mar 14, 2010 5:48:07 PM Ignore oldiesman Report Abuse They will gouge us as long as they can.
bad_sailor Champion Author London Posts:2,989 Points:726,105 Joined:Dec 2007	Message Posted: Mar 14, 2010 5:44:13 PM Ignore bad_sailor Report Abuse "minnesotagirl" has a good point. There is no real justification for the high crude prices.
badbonita Champion Author Syracuse Posts:1,213 Points:377,445 Joined:Jul 2008	Message Posted: Mar 14, 2010 5:37:03 PM Ignore badbonita Report Abuse The only reason there are such high prices is the influence of speculators
minnesotagirl Champion Author Milwaukee Posts:1,177 Points:288,115 Joined:Oct 2009	Message Posted: Mar 14, 2010 5:34:50 PM Ignore minnesotagirl Report Abuse There is no real justification for the high crude prices.
MUSTANGSRUS Champion Author Ontario Posts:4,743 Points:1,001,895 Joined:Sep 2006	Message Posted: Mar 14, 2010 5:32:55 PM Ignore MUSTANGSRUS Report Abuse Both prices are screwy.
fightbigoil71 Champion Author Milwaukee Posts:2,790 Points:595,110 Joined:Nov 2008	Message Posted: Mar 14, 2010 5:27:05 PM Ignore fightbigoil71 Report Abuse Conserve and drill
Jo120 Champion Author Arizona Posts:3,464 Points:1,313,955 Joined:Mar 2005	Message Posted: Mar 14, 2010 5:24:56 PM Ignore Jo120 Report Abuse I haven't figured out why crude oil is so high, demand is still down and the economy may be recovering, but the long range trend is slow growth. If I had to blame someone it's the oil speculators!
letmathe Champion Author Chicago Posts:10,027 Points:2,287,565 Joined:May 2001	Message Posted: Mar 14, 2010 5:24:44 PM Ignore letmathe Report Abuse Keep conserving ... down just a few pennies at some stations here.
heysailor Champion Author Pittsburgh Posts:4,670 Points:1,359,070 Joined:Mar 2006	Message Posted: Mar 14, 2010 5:22:56 PM Ignore heysailor Report Abuse Times are bad and will remain that way for a good long time. That was etched in stone by ruinous decisions made 2001-2008. In a depression or a recession, government has to make up for the demand that no longer exists due to the economic conditions. That means running a deficit. Unfortunately, with so many of our representatives and senators bought and paid for by various industries, effective mechanisms to fight the current recession will never pass. They will be watered down to the point of ineffectiveness even if they pass. The Stimulus (Jobs) bill is a case in point. In order to attract "bipartisan" support, another hundred billion - to help was cut out of funds to be used at the state and local level. Until Congress does its job, until we pay for the sins of the past, and until we have campaign finance reform, it is doubtful that many of us will have the money to pay for a tank of gas or much else.
billy44bo Champion Author Mobile Posts:3,292 Points:622,105 Joined:Feb 2008	Message Posted: Mar 14, 2010 5:22:08 PM Ignore billy44bo Report Abuse needs to be 25 a barrel with as little as being use right now