while i generally agree, i think the other currencies will fall and USD last.. its still the safe haven go to.. gold is not.. gold is the inflation v interest rate hedge I think we will see periods where miners out perform and underperform the metal The XGD follows the XJO becaus ethe movement of money comes with the ebb and flow of FX
there are only a handful of large cap stocks doing anything, the rest of the market is dead.. and i feel it will stay that way until after we have ahas a major correction / crash. In the coming month I think the ASX will bounce coming into reporting season, the AUD will rise against the USD and it will all be sold into.. and then we will be ready for a market reversal.. slide down then bounce in september for dividends then another slide down. And the gold miners will at best hold water and may fall if PoG corrects too. PoG will only go up when the helicopter money comes in afetr a crash, and it will lead the market, miners will have to wait for the whole market to correct and then play catch up with the PoG afterwards.
Personally Im considering reducing some positions over august and buying some USD, waiting for the fall over the next few months and then turn the USD into physical once it shows signs of bottoming.. and then after that rebuild position in miners. There is a chance that PoG will fly up and then fall before all that occurs, its at a deciding point at the moment IMO.. if 1800 holds then up we go, if it doesnt, then gold will get ugly sooner than i thought. I still agree the end game is fiat is ashes.
Consider this: if the govts step aside and let a market crash.. including PMs... wouldnt it be a great oportunity for the banksters to close their shorts and grab more metal for the end game
