Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Global equity market is in back foot since last night, after oil price started faltering and WTI declined more than 5%. However, today morning it's trying to claw back some of the gains. Drop in oil price and other commodities, weighing on indices, but performance is somewhat mixed as of now.
WTI is still down more than 2%, for the day.
Saudi Arabia's powerful oil minister Ali al-Naimi, yesterday speaking at Houston energy industry conference, pointed that there are lack of trusts now. So there would be no production cut from Saudi Arabia's side, pouring cold water over speculations that next step could very well be cut. According to Mr. Naimi, even if countries are going to agree to production cuts, not many will be delivering. So instead of cut they will try to seek a coordinated production freeze globally. Mr. Naimi would be coordinating and meeting other large producers in March to push for a production freeze. In the absence of any coordinated actions, he prefer to leave it to the market to balance supply and demand.
He denied of waging any price war with US shale industry but pointed that these high cost producers would need to cut cost, borrow or liquidate and that, even harsh but effective way to rebalance markets.
Since yesterday, WTI price has declined from their high around $33.5/barrel to $31.1/barrel as of now.
As oil price declined, so have the stocks. S&P 500 has toppled from 1946 area to as low as 1913. Currently trading at 1919.
