Share
Isn't it amazing how this financial crisis is so bullish for the US dollar? The US dollar index is up strongly once again - up 0.49 to 78.43.
I just look in amazement at what is happening, for surely any other currency would be absolutely trashed if it had the USA's financial and economic meltdowns.
Now why am I also not surprised that gold has been smashed back below US$900?
It seems to me that US$900 is that line in the sand, and when gold goes past it the message comes out later, "Do not pass go. Go straight to gaol."
And sure enough, despite financial and economic turmoil and massive physical demand for gold, paper gold goes straight back into its cell below US$900.