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Strategies & Market Trends : Ride the Tiger with CD
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To: koan who wrote (90789)9/6/2007 2:22:18 PM
From: TheSlowLane  Read Replies (1) of 312935
 
Like Steve Saville? He said recently:

"There's a good chance that the Dollar Index will drop a bit lower over the coming fortnight, thus helping to push October gold up to the $695-$710 resistance range indicated on the chart presented below. The risk, for gold, is that the US$ will rebound sharply following its next test of major support at 80. Let's put it this way: from a relative valuation and sentiment perspective a sharp US$ rebound (versus the euro) appears to be a likely short-term prospect, and this represents a significant risk for gold. As a result, unless our currency market outlook changes we will be inclined to reduce our exposure to gold-related investments into strength over the next two weeks."

kitco.com
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