As oil rallies copper remains weak and not confirming, and that makes me skeptical about this rally in oil prices, unless copper starts to pick up and rally breaking the recent range bound.
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Secondly, the CPI of US now 1.5% , near 2% target. FED decided to unwind the QE3 due to the inflation could be rally in the future.
About Gold, Gold falls down because when FED unwinds the QE, less dollar is injected to market, dollar is stronger, gold is anti-dollar, so gold fell down as a result.
Inflation is the only reason. The main reason for the rally of oil recent weeks are bad weather + oi reserve.
The weather of North America is very extreme cold, so the gas using rises up, oil and gas increase as a result.
The oil supply of the world is to the limit, cannot product more . Oil reserve falls down is absolute.
"Secondly, the CPI of US now 1.5% , near 2% target. FED decided to unwind the QE3 due to the inflation could be rally in the future" :did the fed say that, if yes please direct me to it? by the way the fed targets 2% for price index for personal consumption expenditures, not the CPI.
For the Last three points again = Temporary Reasons.