Peak Oil or Peak Price?

NEW YORK (ResourceInvestor.com) — The usually bullish New York Institutional Gold Conference took a splash of cold water on its opening day when Elliot Wave guru Robert Prechter said he is monitoring a repeating technical pattern that could prove a downer for commodities. Furthermore he warned that the US economy appears to be rolling over into a deflation he has long warned of.

Speaking on the opening day of the annual New York event, Prechter drew a full house for his keynote presentation which focused on gold, silver, oil and the U.S. dollar.

Prechter was adamant that the rise in commodity prices has not been because of fundamentally higher demand, but rather because all assets have been
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