Prices at the pump keep rising as crude oil reached $71 today. Mortgage applications hit a 4 month low in the U.S. as the rate of a 30 year mortgage jumped from 4.8% in late April to 5.6% today according to Bankrate.com.
It looks like rising interest rates is now slowing the housing recovery, and perhaps the economic recovery. With worries of inflation on investors' mind, commodity prices should keep rising. Gold is now at $954.70. Crude prices should keep rising as the U.S. dollar continues its decline.
What should investors do now? My strategy: buy gold, buy oil, buy commodity stocks, and sell the U.S dollar.
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