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Online Share Trading

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GOLD SPIKE

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KVW
Super Contributor
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6 REPLIES 6
Wizard
Super Contributor
The market knows very well that the next president is not a miracle man to save the US economy.
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... but the market also knows that the next president will try very hard to solve all the problems, by printing lots and lots of the green stuff...
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Wizard
Super Contributor
Even better for Gold!
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CrownA
Super Contributor
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??
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do you think that gold will pick up any time soon? commodities are falling and gold is rising, but not by much...
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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
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