Not likely. It is already over extended now.
The USD is breaking higher as I suspected it would and the pressure on gold here is immense.
Aussie gold miners got hammered today and the Aussie gold index is breaking down.
I really don't know how bad this current deflationary leg is going to get but it appears it is going to be the worst leg down so far.
After this leg down we should see a bounce into November followed by a recommencement of the deflationary decline into January/Feb 2013.
Then another bounce into May and then the final horrendous collapse into July which usher in a global depression and a collapse in Australian real estate.
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