Categories: Base Metals / Energy / Precious Metals
Topics: General Base Metals / General Energy / General Precious Metals

Outlook for Gold, Oil, Canadian Dollar and the Financial Markets

March 6, 2009

You really do want to watch this.  He has a superb record of calling the highs (and lows) in Crude Oil.  He is the managing director of Polar Pacific Capital. 

 

Salient points are:

 

1.  Bensimon called Crude at the very top of 147. States that we have seen the lows in the mid-30’s. Crude will consolidate in the next few months and will be 65 to 70 by yearend.  

 

2.  Sees Crude making new highs in the 2010 to 2012 time period.  

 

3.  States that we will have prosperity driven inflation (I happen to think that all the money being ‘printed’ by every government around the world will ensure this).  

 

4.  Gold – expect a turning point next week.  The new sequence that we are in already has Gold moving from 700 to 2,600 by 2014. Sees a potential low of 840 to 850 in the near term with a climb thereafter.  

 

5.  Canadian Dollar - the sharp plunge in the Canadian Dollar to 76 cents marked the full extent of the depth of the drop.  Sees base building in the 76 to 80 area and forecasts a move back to par by yearend.  Strongly believes that we will see a high of 1.60 within the next five years. 

 

6.  Stock market.  He sees another 10% of downside in the TSE over the next two weeks.  Believes that the junior resource sector is “very, very undervalued” and noted the consolidation taking place. 

 

 Here is the link to the video   http://watch.bnn.ca/#clip146619