re: marc faber says $3600 an ounce lol Next leg of the $USD trend has clearly started with USD/JPY rising and EUR/USD getting a bloodied nose atm.
Test is now on Gold (wait to NY to see the effects), be surprising if it can break heavy reistance that its currently at.
Word is when the Euro breaks $1.16 fund managers will lighten up on gold, currently just above $1.17 so this is probably some time away yet.
Either gold goes sideways here into mid Jan, or falls on the USD rally then rebounds on its next correction Mid Jan.
The bottom on Gold was caused by a top in the USD, it would make sense that the top will be caused by a bottom on the USD.
The currency moves have to make speculators think twice and should end up been that physcological trigger, but the market does not switch to strong bull to bear over night. It will be a normal correct that will be seen as a buying opertunity then a rally that follows which should be lackluster.
re: marc faber says $3600 an ounce lol Next leg of the $USD...
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