Why oil is the new gold buy: Marketgauge.com Chief Strategist Michele Schneider
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Oil prices (BZ=F, CL=F) have begun to trend upward after 4 weeks of losses ahead of an OPEC+ meeting this weekend. Geopolitical conflicts, production cuts, and easing US sanctions on Venezuelan oils have contributed to downward price moments. Does this mean there is an opportunity for investors to buy in? Marketgauge.com Chief Strategist Michele Schneider joins Yahoo Finance to discuss her recent note on crude oil and how it’s the new gold buy (GC=F) Schneider puts commodities in perspective to understand oil her stance on oil: “Everybody got so negative on the oil because there was a 20% drop, and I think that’s what’s so dangerous when you talk about […]