oil go up and gold go down,oil go down and gold go up,the dollar go up and gold go down,the dollar go down and gold go up,the euro go up and gold goes down.The only thing I see that raises the price of gold is middle east war tensions.Can anyone here dispute this with facts?
not sure about all that drama but if you are looking for gold to "follow" something... start looking at debt. Gold follows debt.. it over shoots and undershoots the debt number based on things that are mostly emotional and CME and other manipulation. It's not fear (see VIX march 09' to Jan 2011), it's not a falling dollar (although that helps but all paper is BS the CBs know this and thus so does gold), it's not falling stocks (see DOW march 09' to present)...
obviously the CBs and big boys had the info... we have a runner now. but at past 1800 is a little heated 'based on debt'.. that doesn't mean we won't be at 2k by Feb. The Euro clowns will fire a couple T at this mess and Ben will be right behind with QE3. Or the world burns.. I bet gold might like that too?
We will hit 28T in debt by 2018 and gold will be $3600/OZ although I doubt it takes that long to reach that number because of other factors.
disclosure: I am long many ounces of physical and will never touch GLD. and listen to Golf Bum.. he's a smart man.