It was a speculative price as you suggest. Analysts were saying at the time that there was no other explanation. The boom is over, the correction will continue, to the downside, and then bounce back a little. I feel it won’t bounce back much though due to the current state of the worldwide economy.
Hmmmmm…. a slight worry I suppose. See link below for ME sentiments on the price of black gold. Cheese Louise! Didn’t the last administration make a fortune (whilst raping the govt coffers…)!!!!!!???? Gold prices, Boeing / arms co. shares and insurance company stocks as well?????????!!!!!!!!!!