Rooting for higher oil prices

The price of oil has sunk even as gold edges higher. That shows fear about the economy…so an eventual boost in crude prices might signal a return to health.

NEW YORK (CNNMoney.com) — Gold is getting close to $1000 an ounce again even as oil prices continue to fall.

Plunging oil prices are not really good news. So as heretical as this may sound, it might actually be time to start rooting for oil prices to head higher again.


At first blush, the fact that gold is up and oil is down may seem strange.

After all, gold is often viewed as a classic hedge against inflation, with prices rising along with interest rates. That’s not happening now.

CNN