The USD.There goes $0.75, there goes support. I was looking for a dead cat bounce here but it may be the cat has been dead for a while, just being kept on life support by those that needed to pet the dead kitty.
It kinda of reminds me of a joke. I guys asks his buddy, "so how is your sister".
His buddy replies, "oh my God she is just terrible!", "she thinks she is a chicken!", "she runs around flapping her arms, pecking at the ground with her nose!" "just terrible!'.
The first guy asks, "well why don't you committ her?"
His buddy says, "we would but we really need the eggs".
And so it goes with those dealing with the USA, the world really needed those eggs. No matter what the USA did and as crazy as it was, as long as the eggs kept coming the world put up with it.
Well it appears either the world has found a new egg supply or the cost of the eggs is becoming too great.
The USD is about to loose almost another 50% of its value. I figure the bottom will be around $0.45. This would mean gold will be about $1,100/ounce.
No wonder KGI is strong while the market is weak. It's is sitting on some of the highest grade gold in the world.