BIG WEEK for Gold ....EAG The ``US$ Fed and EURO central banks are in meetings this week to deternime monetary policies for both...The effects will obviously effect Gold...The US$ un-employment rate is out friday, with the US$ Fed paying special attentiion to those numbers, especially if they are weak...All kinds of talk about the EURO dropping sharply , but EU banks and leaders, stating they will do everything possible to hold the EURO and zones together...sounds like the war of the TITANS...Geitrner was in Europe again today "speaking".....I look for plenty of action in currencies and especially Gold....
I cant see the sharp drop in the EURO...The ECB has numerous options/plans at its disposal which it can use,anytime, anywhere, unlike say slovakia or serbia etc....EURO is a major world currency I beleive #2, so it will be very hard indeed to manipulate it...even if they do manage, paper currnency euro etc holders will have another reason to seek the safety of Gold the ultimate currency...
EAG is showing some strength today...everything offered at 16 was bought right up...now offered at 16.5. with a HUGE bid at 16..We should be in the mid 20s by friday if all goes well...we should be well above that on the next good news release on pending assays....
Mellow