The US dollar, despite its horrible appearing fundamentals, is staging a solid rally and just may be setting the stage for a significant rally. Is it just possible that the US dollar could retrace 33%, 50% or 60% of its bear market losses?
If so gold bulls had better run for cover. Gold would then be slaughtered. Say a 50% retracement of gold's rise from around US$250 to US$450. That would take it to US$350.
I'm not saying this will happen. But one should never stubbornly accept a position and refuse to look at what just might happen. I remain massively bullish on gold over the medium and long term. But right now I need to see how this US dollar rally develops.
Never forget, a bet on gold is usually a bet against the US dollar.
- Forums
- ASX - General
- *** gold bull over red rover? ***
*** gold bull over red rover? ***
-
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online