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A Gold rally of any measure will largely depend on Dollar weakness … Dollar rally kinda getting long in the tooth, IMO.
Now that the ECB & Greeks have saved the Euro …. and now that Yellen has released the Doves …. Dollar has few stories left in the short term to bolster it’s lofty perch.
Isn’t this just Asia – Chinese peoples in China, Vietnam, Thailand, etc – spending their Chinese New Year cash presents after the holiday.
It iis the equivalent of the British Boxing Day sales or the American day after Thanksgiving when everyone rushes out and spends their cash?
Just listening to a financial programme on the BBC with a commentator saying that BHP Billiton plc did well yesterday, PERHAPS on the basis that people are beginning to buy into the beaten up commodity sector.
“Is gold finally putting in its long overdue daily cycle low”?
I don’t know Gary, you tell us. I don’t even know what that means.
Gary, the dollar seems to be working off it’s over bought condition by going sideways rather than down. Are you still on board for it to decline to the high eighties level?
i would be interested to see SPX analysis chart. where do we go from here? I am anticipating at least 50 points drop next week.
Its official this last week just about every analyst i have read is negative Gold and see Gold heading lower, this is one of my fav bullish indicators.