smart hedge funds are buying. Rich countries are buying. Old countries have stopped selling. I wonder why? And gold is only up $100 bucks since Dec09. Not really a big move.
A massive correction would be what? Where South Korea starts to buy physical at 1300 or 1275? Where was the Aussie back in May? Or gold to the $ basket back 10 months ago? Are these #'s in $ terms that hard to grasp when a burger in 1980 was only 25 cents?
It is what it is. I understand. Anyways, good luck to $ bulls, $ bears, Yen bulls, Yen bears, Euro bulls, Euro bears, gold bulls and gold bears and of course, bond bulls and bond bears.
I concur, and hereby report the unofficial conclusions of the G20(-2) Finance Ministers meeting in Korea: 1. US printed billions of money for several weeks. 2. Other countries cried loud: how could you do that? 3. US said the trade must be balanced. 4. Other countries countered: that's not fair. 5. US said, OK, I will stop printing soon, after execution of the current FED plan for another trillion, but let's agree that nobody should devalue their currency, to avoid the currency war. 6. Everybody said: yes yes yes. 7. Everybody thinks: no not sure, protection of my country economy comes first The fact is US already got billions of USD.:)