Gold and the dollar shared their tightest trading bands to be seen lately. Both were roped right in by the big monie. No one was going to act out of line today. The reason was big monie wanted to skim a little something off of the top. Get the best cream, ya dig?
But the dollar cow is tired, and the strong bull gold looks to take the plow. Don't ask why a milkcow was doing an ox's job- that was John Piepont Morgan's move. Too bad Wiilson took his advice. Feel sorry for Obama? No, he should have read his American history books.
Big move in gold next week. Huge move in gold next week. It will mimic its other big moves this fall. Move to $1440 next week. That would leave me $200 off from where I wanted it a year ago, but maybe we could get there. I know, I know wishful thinking. Oh well, I am still quite confident we will see $36 silver by the solstice.
Silver has had a great run and let us not expect that to end now. With Max Keiser squeezing every last ounce out of the mints, the miners are set to ramp production to high levels. These will only further its depletion, which could mean silver joins the trinity in its peak production.
One of the reasons I feel this way is because the dollar has become fat once again, and I do not think there will be many more times to milk it. She is an old cow, best left for pasture. America will not be doing business with the rest of the world as 70% consumption from here on out, it is only a matter of time before the dollar loses its status as reserve currencie. Once that goes everything will even out. The ration could be gold 1:1 with the Dow, as it had been for decades. Trying to pick the week is almost pointless after thinking about that, but hey, what else is there better to do!
Gold will have a $20-$30 day Monday and be followed by a similar move on Tuesday. Wednesday, the reigns are likely to be pulled, but come the end of the week there will be a third large move up. The final price of the week in gold will be around $1440 to $1470
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