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Gold Fades, Dollar Stremgthens

Wed March 24 2010

Picture 6 

 

We made the case this past weekend that it was not yet the
time to buy gold, that  is being
born out in trading this week. We prefer to look at CEF as it represents real
market buying and selling in gold rather than the commercial specs shorting at
the FED versus the public in the commodity gold market. Here money flow at top
continues  to deteriorate. The
dollar is up again today but there is only so much we put in one graph.   CEF is recording lower highs and
lower lows, a bear market since its top in December. The same if true for ASA
and GDX.

There will be a time to move to gold but we are not there
yet.

 

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One response to “Gold Fades, Dollar Stremgthens”

  1. Laura Contreras Avatar
    Laura Contreras

    Gold is good, it’s a commodity, its standard, its always going to be around, they are finding that gold can be used for so many other reason other than jewelry, it could always be used as a form of money as people trade to goods and services. There are a lot of commercials today advertising that they buy your unused gold. So you can assume that it will be a good investment in the near future.

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