My gut is saying the fall in the USD POG indicates a depression is coming because Europe is a mess. All asset classes fall, including gold. I just hope that the AUD falls back to 60-70 cents and that the POG does not fall below USD1000.
Gold currently at 1548USD, 1606AUD.
A lot of damage has been done with this rapid decline. Investors will be wary of gold for some months.
The positive is that the Indians will be able to aford to buy gold and that might prop up the price for a while.
Our goldies did not need that parabolic rise in the gold price to USD1920, just gives the market a false signal of gold's value. 15-16% rise pa is what I am after in the USD POG, not the crazy 30% gain. However successful gold traders may have a different view on this.
loki
so this is how it ends ...heh ...??, page-11
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