Crude oil prices fell below $40 a barrel signaling that not all is well with the global economy. In a global equity market rout, fear trading has taken hold as traders run to the safe haven of bonds and run from just about everything else.
In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market's swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices.
The post mortem continues and many are once again proclaiming the death of gold … as was done in 1999 and again in 2007 … prior to the start of gold’s multi-year bull market and the resumption of the bull market in 2007.
The price war in crude oil is over if you want it to be! At least that is the talk in the energy complex where Saudi Arabia declared a price war against the shale producers at the November OPEC meeting.
Frank Holmes' advice to investors? Chill. In his interview with The Gold Report, the veteran commodities investor shared some strategies that help him "sit back and stay balanced," namely by diversifying and following the money.