The last time oil was this cheap relative to gold was when prices were negative – Felder Report

By Neils Christensen – Kitco News

The gold market continues to consolidate within an elevated range between $3,350 and $3,400 an ounce. According to one analyst, it might be time for investors to look at other undervalued commodities.

In an interview with Kitco News, Jesse Felder, creator of The Felder Report, said that gold’s rally to a record high above $3,500 has already priced in a significant amount of bad news for the global economy, making it difficult to see what new information could spark another move higher in the near term.

“I see gold as an important leading indicator, and today’s higher prices point to a much bigger move in commodities,” he said.