What a day, really !
I would say it was one of the most thrilling days for goldbugs. ONLY IF you were on the right side of it. Gold just went down and down. For a moment I felt it wouldn't even stop at old high of $850, let go $860, the H&S target. But for the moment it did stop at $850. Let's see what transpires next week, and hopefully sanity, make it fundamentals, will prevail. All the bad news for dollar is ignored and it just keeps going up and up and reached almost 76 on usdx. Euro, GBP and yen are down in the dump. The 76 million dollar question is what will happen now ?
well, just keep watching - this space.
Friday, August 8, 2008
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