US$ DOWN Gold UP $8-just as predicted..After nearly touching 76 cents, on week end, US$ is down today to .75.25, and obviously headed lower...Gold on the other hand is UP $8 and looking to go much higher to its old highs and beyond over the next few months...Not a word about the debt extension by the congress, not surprising at all...just hide everything under the carpets...of course that and many other ways will not make thid HUGE issue/problem go away...au contraire, it will create a sence of PANIC, as if and when the US$ has to deal with it....
PDG is behaving great...demonstrating that it can move and spike up even on very low volumes...My view is that The Gold Bull market has resumed it,s upwards extent, and it is a couple weeks away....there is much support and interests in the markets for PDG, as well as other HOT golds...We need to keep a close eye on US$,to keep track the progress in Gold...
One important point that is seldom made on this Forum, is the main reason why we had a shrp correction on these metals commodities, especially Silver, that is a sharp rise in the margin requirements,and as we know most of these contracts are bought on margins...NO...lol...they could not smash Gold like they did Silver...it is NOT a minor amount either, Silver was knocked down by 20% or so...But as I say, that situation will turn back up as well, to help the king of metals,Gold retain and sustain its steady ride up...
Pls don,t be the least discouraged, Gold is back, and will gain much strength as we continue to move much higher....
Mellow99