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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: IngotWeTrust who wrote (25459)4/29/2007 8:01:19 PM
From: sea_urchin  Read Replies (2) of 81092
 
Tutor > hopefully I'm contributing an "on topic" post this time? LOL

That's a good one, I sure even Bill Murphy would think so.

> Blanchard suggests there is strong evidence to suggest that as soon as this selling pressure moderates, gold must burst through the US$700/oz mark.

Not being one who claims to know anything about the gold market, my opinion is very much "for what it's worth". All the same, I do recognize that the gold price is technically very strong and the price formation is building up to parabolic pattern with continuously rising bottoms (no innuendo intended).



But, in its strength, gold is merely mirroring that of most other currencies as the weak USD starts testing its long-term support at index level 80. Of course, if the dollar falls below that, and Euro goes over 1.38-1.4, we could easily see gold going rapidly to $900 or even higher. I know this is a very conservative estimate and I'm sure the "gold messiahs", as I call them, are talking about $5,000 - $10,000.
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