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Will Gold stay over 1000 today ?? That the question

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Super Contributor
Anyone thinking of shorting gold shares the moment the creshendo on this posting reaches glass breaking propotions.Which shares?
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Valued Contributor
is teh US really increasing its gold reserves ?? thought it printed US$ to buy oil ??
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Super Contributor
Sorry Guys a little off the direct topic, but if you look at HAR and GFI should they reach the same levels as in March when Gold was at a high? If you look at HAR in more detail it reached 12000, currently at 8850 so that would be a nice run, or are we going to see resistance at 9500?
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Not applicable
HAR Resistance is at 92 then 100. We could definitely test 97 - 100 should gold keep going. My money is on HAR testing 100 end of this week.
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Super Contributor
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Super Contributor
USD Index is key. As long as it stays below 80 the party is on in stocks and commodities. There is an almighty resistance at 80 and the Fed and other USD interests are doing their level best to get it above. If it breaks above 80 decisively, then all bets are off and we'll be coming down hard. Personally I favour that 80 will hold and that the rally will continue with irrational exuberance. OMHO
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Super Contributor
Intraday high of $1009.40 on the futures!
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Super Contributor
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Regular Contributor
Oil to yes. I'm no expert, but sinse 1979 economics class [gold close to 1000 then & 1$bought ZAR 70-80c!] got the impression they print Dollars & buy gold to reduce Dollar strength, fight deflation & boost economy. To protect Dollar, fight infation & cool down economy they sell their gold for Dollars. Donit before &'ll do it again. OMHO [ maybe not soon this time]
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Valued Contributor
but they don't want to protect the US$ .. they have pretty much said as much, an weak US$ couple with inflation is the best route to reducing gov debt ..
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Regular Contributor
Agree US needs weaker Dollar desperately. So gold @ 2000 $ @ R2 evenly possible, but will the US allow runaway inflation, say 10-15%. Don't get me wrong i'm bearish on Dollar [thus bullish on about everything else.] If inflation get out of hand though, they might turn around with nasty effects. Not likely, but possible.
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