3:06 pm (Hawaii) It's true that gold has been in summer doldrums the past two years, but Trader Dan Norcini notes that currency issues will likely keep gold price in an ascendant pattern.
Ever since Fed governor Bullard let the cat out of the bag and basically told the market that the Fed would not be withdrawing accommodative monetary policy until at least July 2012, the Dollar has been moving steadily lower. That keeps REAL INTEREST rate yields negative and has strengthened the conviction in many traders’ minds that such an environment is going to be the norm for at least another year. Gold LOVES those kinds of conditions and thus has moved steadily higher ever since Bullard’s comments.
Dan Norcini: Gold comments (May 27 2011)
Rob McEwin: Once $3,000 falls, gold will launch like rocket (May 27 2011)
Stephen Leeb: Silver should be $150 today (May 27 2011)
Zero Hedge: Chinese domino has fallen ... or has it? (May 27 2010)
Toby Connor: Warning sign: Too dangerous to play the long side in precious metals ETFs (May 27 2011)
Jordan Roy-Byrne: Gold strengthens in real terms (May 27 2011)
Tim Seymour: Strong news for copper coming out of China (May 27 2011)
David Skarica: Emerging markets on upswing (May 27 2011)
NY Times: China's interest in farmland makes Brazil nervous (May 27 2011)
Zero Hedge: Add Middle East to China, India as another source of surging gold demand, says Jim O'Neill (May 28 2011)
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Bill Murphy of GATA (May 27 2011)
Endless Mountain's daily technical analysis of Spot Silver (May 27 2011)
Mike Krieger on the debt ceiling (May 27 2011)
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