Real Wealth #084 01/08/2007
Goldman Sachs cuts oil forecast again and New Platinum coins a must invest!
Late in 2006, Goldman predicted the average price of oil would be over $75 in 2007, but after the persistently warm winter weather we've been experiencing, the world renowned investment bank has just cut its 2007
Goldman Sachs said it was cutting its average price forecast by $3.50 to $69 a barrel, keeping it among the top 10 in a Reuters poll of more than 30 analysts.
Goldman forecasts for oil prices were very accurate in 2006
"Although some of this warm weather was already embedded in our price forecasts, the weather deviation since mid-December... through the first part of January will likely reduce oil demand by a further 46 million barrels relative to our prior assumption of normal weather, which would be worth approximately $3.70 a barrel to the oil price," it said in a report dated Jan. 5.
Goldman, whose 2007 forecast was the industry's most bullish at the middle of last year, first cut its forecast for this year by $3 on Dec. 22, citing unexpectedly high
Unseasonably warm weather in the U.S. Northeast, the biggest heating oil market, and in
"We believe that producer selling likely contributed to the sell-off, as did investor positioning heading into 2007, as the energy price sell-off was part of a broader commodity sell-off," the report said.
Copper prices fell to nine-month lows on rising inventories last week, while gold is at a 10-week low, dragged down by a stronger dollar.
Long-term, Goldman remains bullish.
"The weather shock should be viewed as temporary and underlying oil fundamentals remain relatively constructive," the report said.
Goldman's price forecast remains at the high end of a Reuters poll of 34 analysts that, in late December, showed expectations of an average $63.48 a barrel for 2007, before oil prices stumbled below $60 in the New Year.
Stocks of oil majors, including BP (Charts), ExxonMobil (Charts), ConocoPhillips (Charts) and Chevron (Charts), stopped mirroring crude prices in mid-September and rebounded as traders bet on rising oil prices and looked for deals in a sector many saw as undervalued.
Goldman remains Bullish and so does the Gold & Energy Advisor
The dynamics of the oil and precious metals market remain EXTREMELY bullish. Pull b
I've just returned to the office from the Orlando FUN Show, one of the largest rare coin shows in the world held every January here in
All told, I figure there must have been several hundred million dollars in rare coin business done this past week at this show, but despite having literally 1000+ dealers at the show, I was only able to buy a handful of the kinds of platinum and gold coins that I recommend for long term investment. In f
This wasn't a case of my not willing to pay the prices dealers wanted; it really was a matter of there being no supply. The rare gold and platinum coins I recommend are almost unobtainable.
If you are motivated by our recent special issue on platinum and would like to put some of the platinum coins I recommended away, please call Joe Glenski at my rare coin firm Finest Known, Inc., at 1-866-697-GOLD (4653) ext. 1406 or 1-561-750-1716 ext. 1406.
After we sell what we have, we'll begin
Amazingly, a group of coins that will be known in future years as the rarest platinum coins ever struck by the U.S. Mint were struck in 2006.The 2006-W Mint State Anniversary issue (W stands for West Point Mint) Platinum coins were minted in extremely low numbers. There are a total of only 2515 of the four coin sets that include the 2006 W $10, $25, $50 and $100 in existence.
Among these, I estimate less than 600 sets will grade perfect MS70 condition.We have a few of these sets available at just $9,950. Once we sell these few sets, I expect finding more will be very, very difficult.
I wouldn't be surprised to see these sets double or even quadruple in price even if Platinum stays under $1200 an ounce; but if Platinum takes off to $5000 an ounce, these sets could very well jump 10 even 15 fold. I recommend them highly.
If you're interested in one or more of these 2006-W Platinum MS70 NGC or PCGS graded sets, please don't wait. The f
Call immediately so you don't miss out, Joe Glenski at my rare coin firm Finest Known, Inc., at 1-866-697-GOLD (4653) ext. 1406 or 1-561-750-1716 ext. 1406.
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