1/21/2015
By charles payne

I mentioned at the start of 2015 that I was looking for a bounce in gold this year, perhaps to $1,400 or higher. With the European Central Bank (ECB) moments away from triggering more money printing, gold may finally be ready to shine (no pun intended).

A headline in Financial Times says:

Central Bank Incompetence and Monetary Dysfunction Make Gold Look Attractive

Now gold is breaking a key resistance number and more than survivalists are giving it a second look.

Money Printing Around the World

Canada announced a suprise interest rate cut, joining countries like Peru, Egypt, India and Turkery.  Once the ECB joins the game and Japan tries even more tricks, I do not see the U.S. dollar pulling back; however, some think it could spark the stock market.

If it were not for the volatile nature of the collapse, many would be saying oil has hit a bottom, but the last couple of days look like a classic reversal. Crude oil prices flirted with $44 a barrel, making a series of higher highs and higher lows.

While Wall Street has ulterior motives for rooting for a bounce in crude oil, there are potential benefits for business that could have a greater impact on portfolios than the oil stocks rebounding.

In the Philadelphia Fed Report, a supplemental survey on oil stated the obvious by listing the following benefits in perspective for business.

I think businesses and consumers alike will begin to reflect cost savings from lower crude oil with the former hiring or investing.

Stay tuned...all eyes on Draghi.

Charles Payne
Wall Street Strategies

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