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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (40933)	10/9/2008 7:22:38 PM
From: TobagoJack	Respond to of 218536

just in in-tray (my e-mail box usually has about 50-60 e-mails generated by a lovely and perpetually on-going e-mail roundtable) it actually does not in 1. foreign currency terms (note that new highs for gold in euro terms, Australian dollar terms, etc. also foreshadowed the break-out in USD terms in 2005) and 2. more importantly, in real terms. the recent high in the real gold price was already far above the previous high. in fact the increase in the real price has been so large in such a short time that one should expect it to correct somewhat. also, open interest in gold futures keeps declining, a sign that many speculators are forced to sell futures positions due to the deleveraging issues plaguing the markets. something analogous happened at the start of the crisis in Aug. 2007. the nominal gold price only started to move after the first phase of the liquidity crisis had passed.