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main1event
11th December 2008, 07:36
The USD is below 84.76 this morning and that is below support. It could bounce and stay above support so its worth watching over the next couple of days. If it heads lower we could see much higher gold and silver prices in the next few weeks. There is plenty of pessimism out there so its entirely possible.

research24
11th December 2008, 07:40
Gold started moving before the dollar, so what does that tell you?

Are Fekete and Conrad right, Bernanke is letting gold loose? If so, this will be the gold event of centuries! Play Rocket Man here, please.

main1event
11th December 2008, 07:46
Bernanke has to let the dollar fall, every other country is and that will just absolutely crush our exports. We have to monetize the debt. I remember Bernanke saying we didnt need to do that but thats when we were just talking about a 700 billion bailout. LOL

There simply is no other way around it.

skijake
11th December 2008, 07:50
Gold started moving before the dollar, so what does that tell you?

Are Fekete and Conrad right, Bernanke is letting gold loose? If so, this will be the gold event of centuries! Play Rocket Man here, please.

Fly baby, Fly!:)
I thought the IMF was dumping gold this week!:p

main1event
11th December 2008, 07:52
Fly baby, Fly!:)
I thought the IMF was dumping gold this week!:p

Promises, Promises. The next bubble is in gold. Forget $2000.00 gold it will be $3000.00 gold sooner than we think.

skijake
11th December 2008, 07:59
Promises, Promises. The next bubble is in gold. Forget $2000.00 gold it will be $3000.00 gold sooner than we think.

At 2k gold does that automatically mean USD is under 60?

main1event
11th December 2008, 08:03
At 2k gold does that automatically mean USD is under 60?

No, supply and demand. Gold could be at $2000.00 by the time it gets to 72 again.

Greaves
11th December 2008, 10:22
USD @ 84.04 according to Kitco. Where's the gasoline maybe we can add some fuel to the fire! :p

skijake
11th December 2008, 10:57
USD @ 84.04 according to Kitco. Where's the gasoline maybe we can add some fuel to the fire! :p

Rome isn't burning fast enough for you? Don't worry, it's coming.:(

Greaves
11th December 2008, 10:59
Rome isn't burning fast enough for you? Don't worry, it's coming.:(

I'm thinking we put some oil on that fire to... :D

Greaves
11th December 2008, 11:00
83.97 ... Burn Baby Burn!

Frelodr
11th December 2008, 13:01
Just dropped to 83.77. Lodr

jechilt
11th December 2008, 13:05
Just dropped to 83.77. Lodr

where do you all think this needs to drop in order to propel gold north? that is, as long as there is not some "divine" intevention in the market that squashes it...

main1event
11th December 2008, 15:12
where do you all think this needs to drop in order to propel gold north? that is, as long as there is not some "divine" intevention in the market that squashes it...

We are going higher. Sure we pulled back a bit today but thats to be understandable. I would buy the next big dip in Gold and Silver.

I believe all hell will break loose for gold and silver when 80 breaks. That is almost $4.00 from now, by that time Silver could already be at $14.00 to $15.00 an ounce.

Right now traders will play this fall in the dollar is short term. When they realize it isnt they'll move back over into metals.

valerb
11th December 2008, 15:13
The dollar is now at 83.72 while gold is up 1.41% and silver is up 1.67%.
It doesn't look like the drop in the dollar is having any impact on Gold or Silver.
A drop like this in the past, we would have seen a huge rise in prices.
It seems that the Gold and Silver investor are not biting this time. There must be more information out there that we are not seeing.

jechilt
11th December 2008, 15:44
I am sitting pretty good with silver. I have cash reserves waiting for the next dip and then I am all in on gold. Only question is if it is going to dip and by how much. If it runs to 900 with green flags, I will have to chase it....eek

research24
11th December 2008, 15:51
If Bernake is truly cutting gold loose, I'd think he'd do it slowly with a gradual reduction of shorts. Having gold rocket $1000 wouldn't be a good thing as I believe in foundations. If he suddenly called off his proxies, chaos would result.

So lets keep an eye on the gold COTs and see how it goes.