Updated Projected Inflation Range: http://modj97-predictwallstreet.blogspot.com/2010/01/buy-and-sell-points-s-500-feels-more.html
Currently over monthly pivot point. 1,136.10
since currency would be worth more in a deflationary environment, gold's rise in the presence of ongoing deflation would have nothing to do with fundamentals and everything to do with speculators/crowd psychology. This means gold is driven by greater fool logic at this point in its ascent
I KNOW, not think, the dollar and gold are not tied together...they are independent..
re-read the chain..
the original author seems to think the dollar price at 76.42 is significant for the price of gold.....even if they do seemingly run together, he is making another flaw and that is gold is in a channel and his analysis is statitsically insignificant because of such....
"Take a look at the dollar now, sucka...re-engineer yer analysis and whay does your magic power and tea leaves say about today 1 months ago??.."
You are another one that thinks the dollar applies to gold price...who is the "sucka" here?
Mojo, if you are using gold as the inverse for the dollar then your system is flawed. Gold has decupled from the dolalr and will trade on its own, thank you.
FWIW, the dollar will fall below 72 before another serious rally...