Gold has been under pressure within the last few weeks, after almost breeching $1800/USD, the price staggers below $1650. The one week and daily chart for gold show that a breach of $1620 and $1645, respectively, could send the yellow metal toward $1000 very quickly making investors cringe and soil themselves. Gold is down $17.60 today @ 1649.50; Silver also loses ground down $0.84 @  32.11/USD/oz. Concern that a spike in oil may send the world economy into another recession has Saudi Arabia pledging to increase production by as much as 25%. Oil lost $2.48 falling to $105.61 USD/barrel. Be prepared for something strange to happen soon, after all, it snowed in Arizona and we are enjoying 20 degrees better than normal temperatures in Toronto. Today happens to be my wife’s birthday she is the same age as Madonna, I guess we can both imagine and fantasize. The question is would I trade all my gold (my wife) to be with Madonna? I will request the answer from Mike Meyers of Wayne’s’ World.

Note-movements based on previous days closing market prices.