Oil will return to the pre-financial crisis range of $50 to $80 a barrel due to increasing shale supply and a drop in demand due to efficiency improvements, said Michael McGlone, Director of Research at ETF Securities. McGlone added that gold will hold the $1200 mark and will likely gain in 2015 after withstanding the strengthening dollar in 2014. He said silver is trading very cheaply to gold on a historical basis and should be aggressively purchased at these levels. Finally, McGlone said platinum is the globe’s cheapest commodity and has been hurt by its high correlation to the struggling Euro.
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