The U. S. Dollar Index held only about one-half of its gains
By Daniel at 23 September, 2008, 9:48 pm
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Contrary to the headline in the above article, the U. S. Dollar Index held only about one-half of its gains!
The minor pullback in Spot Gold today after yesterdays huge gain is to be expected; more importantly, my 3 X 1% P and F Spot Gold Chart did NOT show a Reversal, therefore, the short term trend is still up, as is of course the intermediate and long-term trends!! The objectives for Gold and Silver still remain at least $1,750 per ounce and $41.30 per ounce, respectively, by March 20, 2009.
As usual, John Nadler is trying to talk Gold down, and thereby talk the U. S. Dollar up, which rose a miniscule 0.5% today after yesterdays huge loss of 2%. Of course, John Nadler’s motivation is that the U. S. aid to Israel is paid in U. S. Dollars.
Among the bullish factors for Gold and Silver prices still remain “BLACK SWANS” #1, #2, and #3, as follows:
(1) the never-ending-financial-crises.
(2) a top General is now in control of North Korea, now that Kim has suddenly disappeared after U. S. refusal to give free Crude Oil as Quid-Pro-Quo for Kim blowing up the cooling tower to his atomic power plant, thus portending military adventures against South Korean interests (shipping near DMZ) (3) Iran’s Uranium Enrichment Program getting push-back from Israel, and Israel’s Netanyahu possibly rising to power at the expense of the dovish Livni, thus portending an Israeli A-Bomb attack against same, even though Iran’s President yesterday threatened to “break the hand” of such an attacker before hand
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