The time has finally arrived for Obama to do to the USA what Mugabe has done to ZIM - print money - and that means huge inflation - and that should mean Gold goes up and US Dollar goes down. The Rand should still try to strengthen for 2010, but that might not happen as people continually bail out of 3rd world markets. So where to with the Rand price of Gold??
On the weekly chart, gold is caught in a symetrical triangle. It needs to break above $88 per share to confirm a reversal, IMO. My concern with gold is the value of the rand. Nova is probably the best to advise here, since my view is that the rand is oversold and due to strengthen, which will magnify a drop in gold, if it happens