Darleen, very interesting. For a moment I thought you wanted me to buy my groceries or a house in California or maybe come and live over there.
I can say that those grocery specials are at least twice, or even more times, as expensive as in my local supermarket (rands converted into USD). But then in SA a MacDonald's hamburger costs $1. (maybe a bit more now that the rand has strengthened) The little house is incredibly expensive but you are talking about LA. I'm sure in rural America a 2-bedroom house with one bath would sell for $80K --- but then how would the people be employed? The reason people generally live in big cities is because of the work opportunities. That's why I say an expensive home is the opportunity cost of being employed, especially in a field that one has studied at university.
>Where your system is stating that gold has run it is course my mind is asking me which dollar?
I do a variety of analyses but not against the Canadian or the Australian dollar. However, I do do a semi-comprehensive gold index which includes the gold price in USD, Rands, Euros, Yen and Sterling and that has, in fact, topped out. This is apart from an analysis of the SA gold shares with their prices measured in rands, USD or estimated in Kruger rands. Of course, the most important dollar is the USD and that, independently of gold priced in any other currency, has also run its course. So, the bottom line of the analysis is that gold in a variety of currencies and SA gold shares have topped out. In fact, the sell signal came at me "right across the board" if you know what I mean.
Let me just say that this is a slow, long-term analysis and it is conceivable, even likely, that both gold and gold shares could go up in the days/weeks to come. On the other hand, they may not. |
