Phil Carr
The Gold & Silver Club
Gold hits nine-week high as china worries hit stock market. Gold climbed above $1,100 an ounce for the first time in nine weeks on Thursday as the dollar fell and investors channelled money into safe assets as worries over the Chinese economy hit global stocks. Oil slides below $33 to near 12 year low as China rattles investors. Brent and WTI fall more than 5% as US Crude Oil hits lowest levels since 2003. The price of oil has shed around 70% since the current downturn began in June 2014, causing pain to oil companies and governments that rely heavily on crude revenues.
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