Where now for oil and gold?

There's a saying that bull markets 'are born on pessimism, grow on scepticism, mature on optimism and die on euphoria'. So are the bull markets in gold and oil now over?

Sir John Templeton died on 8 July, aged 95. He was, throughout his life, a great investor. He was also famous for the following quotation: "Bull markets are born on pessimism, grow on scepticism, mature on optimism, and die on euphoria."

The late Sir John's famous quote encapsulates the current condition of the commodity and energy sectors. We have to ask ourselves: Are the bull markets for gold and oil over and are they now primary bear markets?

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