tag:blogger.com,1999:blog-1708908742323002823.post4335705328906099948..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: What is Euro Gold telling us?Trader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1708908742323002823.post-78505981139063660102012-01-31T13:29:00.359-08:002012-01-31T13:29:00.359-08:00For awhile on Friday I thought gold might break ou...For awhile on Friday I thought gold might break out in dollar terms first - we were closing in on 1750 quite nicely.<br />Gold has now closed above 1315/oz in Euros, your priceline. We will see tomorrow if the French service which I follow quote their daily price above 42,270 Euros/kilo, the Dec 1st price which equates to 1750/oz US. Personally I don't think it matters the slightest against which currency gold breaks out against first. <br />We are in the same shell game as before: its Europe stupid, no its the US banks and their derivative positions, or maybe something else we forgot to watch like the CME losing the last of its deliverable gold, or the economy and its shadowy figures, Iran, QE[n]. Say what you want about Europe - maybe they should go back to the "serpent monetaire" - but think about it - every month the US runs a deficit of over 200 billion. And how much Greek debt do they want to write down?Tomhttps://www.blogger.com/profile/14701125794767347203noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-15122191346234779922012-01-31T09:36:16.563-08:002012-01-31T09:36:16.563-08:00Dan,
I'm sure that you have heard Jim Sinclai...Dan,<br /><br />I'm sure that you have heard Jim Sinclair's latest interview with Ellis Martin about the impending undeclared default of 5 major US banks by the International Swaps and Derivatives Association that will be announced this week. If this is true, what will the effects be on Gold once the announcement is made in your opinion?<br /><br />Thanks a lot!dflyhttps://www.blogger.com/profile/10617196875708889118noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-52341520594410567062012-01-31T08:41:00.827-08:002012-01-31T08:41:00.827-08:00Absolutely right, Dan. Actually, I don't think...Absolutely right, Dan. Actually, I don't think it will be too long until Euro Gold makes a new high - it's only 3.5% off from its all-time high and the momentum behind gold looks sure to carry it through sooner rather than later.<br /><br />Other currencies also stand poised to make all-time highs. In fact the Serbian Dinar just did exactly that. A sure sign that investors in many countries still value gold as a means of protecting their wealth.<br /><br />I wrote an article about exactly this, <a href="http://screwtapefiles.blogspot.com/2012/01/gold-will-hit-all-time-high-in-days.html" rel="nofollow">here</a>, if you're interested.<br /><br />JdAAnonymousnoreply@blogger.com