"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 9 hours Why Criminals' Cryptocurrency Choices Matter To Average Investors
  • 1 day OPEC ‘Supergroup’ Keeps Oil Exports Subdued
  • 2 days One Belt, One Road, One Direction for Precious Metals
  • 2 days Vicious Trio Keeps Bitcoin in Chokehold
  • 2 days How Infrastructure Is Driving A Commodity Boom
  • 2 days What’s Really Happening With Venezuela’s “El Petro?”
  • 2 days Gold Bull and Bear Markets
  • 2 days 5 Big Drivers of Higher Inflation Rates Ahead
  • 3 days U.S. And China To Face Off Over Aramco IPO
  • 3 days Gold Bulls, Brace Yourselves – Fed Hikes Are Coming!
  • 3 days Stocks Fail to Hold Gains, But Still No Correction
  • 3 days Cryptojacking: A New Threat Vector To Critical Infrastructure
  • 4 days Why The Next Oil Boom Will Be Fueled By Blockchain
  • 4 days 5 Things Investors Should Know About China this New Year
  • 4 days Is The South Korean Crypto-Drama Finally Over?
  • 4 days Miners’ Rally? What Rally? Watch Out for More Fake Moves!
  • 4 days Four Percent 10-year Note Yield Will Be a Floor Not a Ceiling
  • 4 days The End Is Near
  • 5 days 5 Record Breaking Gemstones Even Billionaires Can’t Buy
  • 5 days Irredeemable Currency De-tooths Savers
Stocks Fail to Hold Gains, But Still No Correction

Stocks Fail to Hold Gains, But Still No Correction

The U.S stock market indexes…

Decision Time

Decision Time

Last week, I mentioned that…

Mike Paulenoff

Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com, a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies,…

More Info

Gold at New Highs, Dollar Continues Slump

More of the same... spot gold prices continue to climb to new all-time highs, while the dollar index continues to slump just below 75.00 (which my work argues is part of a developing intermediate term bottoming pattern that will be completed during the remainder of 2009, ahead of a powerful recovery rally period).

Meanwhile, my next optimal target zone for spot gold is $1140-$1150. Do you think that the subject of the falling dollar (the peg for the Chinese currency, as well as most of the other Asian tigers, etc) came up in conversation on this trip? My sense is that Obama needs and asked for a bit more patience from his Asian counterparts, for the U.S. economy to show more substantial growth, after which he likely made a commitment to focus on policies that will stabilize and then strengthen the dollar- and dollar-denominated investments from our "creditors."

If I am correct, and hints of such are revealed to the markets in the upcoming days/weeks, then any surprises will be dollar-positive, and potentially very painful for the entrenched dollar bears.

 

Back to homepage

Leave a comment

Leave a comment




Don't Miss A Single Story