Black gold and Yellow gold hit highs

oil hits $100 a barrel gold reaches $900

He said it would happen - that the price of oil would hit $100 a barrel - and it has! Back in 2000 Michael Economides, author of "The Color of Oil", had predicted that oil would hit $100 a barrel - probably to great deal of good natured ribbing. The price of oil at the time was hovering around $30 and had not really gone too much above that mark in the previous decade, and even $50 was looking a bit far fetched.

It would have been a good time to buy into oil stocks as prices have risen higher year by year since 2002, to finally reach the $100 level in the first trading day of 2008.

Following a similar trend, gold has hit a record $900 per oz as of January 11th, 2008.

So what do you think the price of oil will be in 6 months? Is demand going to continue to outpace supply?

Take our poll (current poll is on the side bar; see here for past polls).

We will ask Michael Economides for his prediction for July 1st, 2008!


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