"Gold prices DO NOT fall when the dollar is falling."
The last four days beg to differ. But, yeah I definitely agree with you over the long-term.
"Recall this summer when the dollar broke down, it took five days but gold soared from the lows and the gold stocks launched almost 50% in 2 days."
A proper recollection of this summer would demand that you be out now and wait for a crash to buy in cheap.
BTW, the XAU low close was 49 on 8/31. After two days of rising, it closed at 52, a gain of 4%, not 50%. However, it did close at 87 on Oct. 7, topping out at a gain of more than 75% in little over a month. Then on October 8th, the whole world changed and we reacted about as quickly as a bunch of hibernating bears.
"dollar getting smashed overnight."
It's amazing how strong the Mark is despite the surprise lowering. The dollar's failure to rally is very bearish for the dollar and the stock market.
"Mon could get UGLY if Brazil devlaues(sic) over the weekend."
They may devalue sooner or later, and if they do, Brazil will be immortalized in economic history.
It looks like our market is back.
Good Luck,
007
Best wishes to Diamond on your current endeavors. |
