Jesse's Café Américain: Is the Gold Rally Strictly a US Dollar Phenomenon?...

Jesse do interesting post (as usual :-) ). This is like continuation of my post for Gold:USDx

Jesse's Café Américain: Is the Gold Rally Strictly a US Dollar Phenomenon?...: "One sometimes hears that 'gold is only rallying in US dollars.' One can always point out that since the US dollar is still the world's re..."


Gold @ 1300

Today yellow metal reached 1,300.00 USD.

Gold is same as before. Same as tomatoes, same as stones.
Gold is same as it was back then when was $640.

The difference is the dollar. Dollar is fiat currency, backed by nothing.
Dollar worth only the paper on which is printed.
It is not a surprise that small kids - 3-4 years old thinks that coins worth more than banknotes.
Of course they must cost more because they are made from metal!!!

Now I expect gold to fell a little bit, but next target is 1350, then 1600 and so on to at least 2100.

Gold update

As I show in previous post here:
Gold fell to the middle blue line $1282, but it reveres quite fast.
We are once again at the top line, now at $1308 and
I expect drop again, at least to $1282 area.


Monastery bells

This is small video I made in Monastery near Gigintzi village.
Put the volume *down* before start the video!!! :-)
Nikanor - the monk who rings the bells have interesting story - he was stockmarket broker and Elliot wave market analyst. Then he decided that "there are many brokers, but not enought monks" and went to this monastery.

Hopefuly he still doing market and currency analysis for me :-) , some of them can be found on the blog.

Gold 8h

8h Gold chart with updated trendlines.

Gold / USD index

There is a chart of gold, divided by USD index.
As we can see there is new high there and figure does not resemble a wedge at all.


Gold 8h

What a difference a week make. Now I expect price to fall at least to the middle line, or even to bottom of the channel.

Google from week ago

The chart is old, and now price is at the upper pink line.