the revenge of the gold bugs ...

I have noticed some important changes in the gold market of recent weeks. Here are a few:

1. Gold is making record highs in many currencies. Gold is also rising strongly in AUD and at $A1422 could be well on the way to making a new high in Aussie dollars.

2. Gold is no longer automatically is a mirror image of the US dollar. Despite the US dollar rising against numerous currencies, gold is rising strongly as the ultimate safe haven currency and making record highs against these currencies INCLUDING the US dollar.

3. Gold is no longer successfully getting trashed on the Comex following important news releases.

4. When gold is taken down on the Comex it bounces straight back up, like on Friday when it was hit down to US$1217 but closed above US$1230.

5. When other commodities are declining gold no longer automatically declines with them. In fact gold often rises.

6. When the Dow is getting hammered gold shares don't automatically get smashed along with the Dow because gold shares are "just equities." Gold shares are now rising because these shares are backed by real, physical gold.

7. It is ugly on the ASX today, with the XAO All Ords down 127 points and other sectors also heavily hit. But our Gold Index, the XGD is up over 50 points.