Click download link to listen on this device: Download Show
Yes, I would agree with that Doc. I think we are going to hit and then break below 79 on the dollar. We were there just as recently as late October and the pattern strongly indicates (to me anyway) declines are ahead. I do not think USD is collapsing as Gary has suggested but certainly dollar weakness indicates inflation expectations will be mounting. This is a positive for metals. Hell, it is a positive for just about everything. We have really been in the doldrums for a long time in resources.
I agree that a collapse is certainly not imminent for the U.S. dollar, but that is not to say it will not eventually not collapse. It is currently the prettiest pig in the trough.
Wow gold going down to 72….what does that mean for gold Doc?
If you mean the dollar going down to 72, to me that would indicate a positive condition for gold.
Sure Al senior moment!!!
Andrew, ultimately, I believe the dollar breaks down through 79—–probably not in this move down. It may bounce one more time and then if it takes out the 79 level there’s only resistance at 78 and then mostly air under that. I believe that would be a very positive scenario for gold and also commodities.
I liked your comment the other day about the chart looking heavy, Richard. Feels the same to me. If it holds at 79 I will be surprised. The pattern would have truncated in that case in an odd formation relative to where it looks to be headed.
I hope you’re right Bird; we could use a nice move up in the PMs to help maintain the channel we’re in when spring comes.
Yeh Doc, I hope that he is correct also!
you all think diss games and talk will go one forever ?http://www.youtube.com/watch?v=iFDe5kUUyT0 !!!!!!!!
Your nick name could be Rachett Al??
If I understood what it means I might do that!
CPM group view:
Contrary to a number of other opinions, I think Jeff is pretty sharp!