Last few days, gold demonstrated its real "GOLD" status, shooted up to $329 in less than a week, today a bit of correction, there are many many fumadamentals behind this rally, I need not to list any; despite that CB's annoucement regarding limited gold sales and leasing or loan stuff.
My pure or 100% observation is that gold first enemy which is DOW--Dow Jones INdustrial Average 30 blue chip stocks.
On the eve of collape or crash of that Dow from 11,300 to, that 10,000 marks is the siginificant factor made this gold rally. And more bad news are coming for that DOW.
I expect that Dow will -300 more tomorrow or friday as U. S. unemplymeny rate or non-farm payroll numbers announced, int rate jitter will ignite DOW big sell-off Down she goes below that 10,000, and then 9,000 or 8,700; this 10,000 marks is so crucially, the whole global finacial system depends on it.
Once Dow crashed, gold will break that $325 within hours to come, and then gold $400 which is the right price at the right place and Alan Greenspan would love it. {you know how many times Alan has warned that equity Exebulance; you see what it means}
And I am not kidding at all.
Of course, short covers will add feul to this big rally.
Last time, only options expired made gold one day gains in history.
Next when Dow crashed, another history will be in the making.
As I said Dow is the gold very first enemey. And I see that enemy will be defeated within hours.
Watch out folks!!! Again, I am not kidding at all.
John Paquet
Buy gold at this low, will make you titanic fortune. |
