Gary Savage – Mon 28 Oct, 2013

Gary Savage starts off our Monday

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Gary joins us to discuss the gold market and what he thinks is going to happen to the U.S. dollar. We apologize for the poor quality, the connection between us and Gary had some static. We will work on fixing this for the next interview with Rick.

 


Featuring:
Al KorelinCory FleckGary Savage

Comments:
  1. On October 28, 2013 at 9:48 am,
    Bobby says:
  2. On October 28, 2013 at 9:58 am,
    Matthew says:

    The first time the USDX traded at today’s level was 21 years ago. Gold was about $340. The second time was 15 years later. Gold was about $680. Gold is now about $1360. See the pattern?
    The USDX doesn’t matter to anyone but (possibly) short term traders. If you want to know how the dollar is really doing, watch GOLD.

  3. On October 28, 2013 at 10:18 am,
    james (the lesserrr) says:

    $1340 was the critical price level.
    Today’s close will be the third consecutive close over this level
    Time to start setting your sights on the next key level, $1400

  4. On October 28, 2013 at 4:02 pm,
    Grady says:

    $1340? The April waterfall decline bottomed just above 1350, and that has been established as a key level multiple times since.

    http://1.bp.blogspot.com/-TsS1BRJsIxs/Umvr_5pH9nI/AAAAAAAAE0s/0HJdmNnR9M0/s1600/Chart20131026092039.png

    So we’re right up against resistance right now, not through it. Gary’s read on it sounds very viable to me. Trader Dan adds valuable perspective:

    http://traderdannorcini.blogspot.com/2013/10/gold-closes-out-week-above-50-day.html

    • On October 28, 2013 at 6:13 pm,
      Matthew says:

      I agree. I said on Friday that the low $1350s mattered more than $1340.

  5. On October 28, 2013 at 4:34 pm,
    TraderStef says:

    Gold Chart Oct 25th Close. Fibonacci, Inverse H&S, Trendlines, Laterals, Support & Resist Levels, Studies… pic.twitter.com/yEuW8smyZu

  6. On October 29, 2013 at 7:45 am,
    johnny petormann says:

    double head and shoulders and eat bernanke and fed jumping to 2500 u$s/ OZ, LOL