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USD/ZAR breaking resistance

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Not applicable
trying to push through on the hourly and not terribly overbought yet....this could get interesting..
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27 REPLIES 27
john_1
Super Contributor
What do you think is going to happen?
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Not applicable
I have no idea....things will get more expensive?
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Not applicable
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Tom168
Frequent Contributor
o my sack..rand is nearly 10 to 1 US$ Will it affect our gold shares tomorrow?...I went long before close today...
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Not applicable
Seems like the currency traders have mistaken the Rand for the Icelandic Krona... IMHO, although it should be good for gold miners, they might still be punished because they are shares, and all shares are being sold. My strategy, based on last week's action, is I am in GLD calls, once the decline has lasted long enough for the gold price to have risen, then I'll jump out of GLD and into the miners.
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pirates
Contributor
pity the importers of goods who didnt take forward cover and also the guys travelling overseas .17.20 to pound and 13.36 to euro
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john_1
Super Contributor
Wow Big time shift..So much for SA will remain untouched.
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Not applicable
I said things would get interesting....
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grandmaster
Frequent Contributor
10.03/$ just now - gotta give it to you Chartist.
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Not applicable
Is it going to slide to 13 R/$ again? Been waiting for that for years...
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Not applicable
Think it will be possible to get in tomorrow on GLD at a good price and make a profit? Holding some DRD, would they will do well tomorrow?
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Not applicable
WTF....Rand @ 10.68 now! This gives me hope for my SAP long....die runt die!
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Wizard
Super Contributor
Iceland...here we come.
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PaulC
Super Contributor
For those of you that are holding GLD or there derivatives happy christmas! I know ill be taking some profit at the open
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DST
Super Contributor
If you thought the capital of Iceland was Reyjkavik, it is in fact about 3 pounds thirty pence.
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_nova
Super Contributor
hyperinflation (on imports)... here we come... deflation on local stuff... here we come...
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platsak
Super Contributor
Which shares will get hammered and which will benefit?
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_nova
Super Contributor
they'll all get hammered but technically exports should benefit. Except that now the imports of machinery etc has just gone up by at least 20% in cost
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Not applicable
The right time was on Tuesday, when the Dow turned and went negative. By now GLD has already shot up substantially. There might be more upside, particularly if the gold price goes back over $900 like it did last week, but then again the Rand could bounce back, so there is certainly some downside risk from here. It's your call...
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