1. Pay no attention to the reasons given for gold’s strength. The primary reason for gold’s action is in the US dollar.
2. The idea that the dollar is a safe haven investment is SPIN on a whole new level. Buying interest free non-guaranteed debt of a nation, as is the case with the US dollar that is strangled by growing debt, will provide little safe haven.
3. The US dollar has .7285 as a magnet pulling it down. I rate that influence stronger than the .7600 support level.
4. Gold is going $1224 on its way to $1650. (more)
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