Wednesday, December 09, 2009

Gold, US Dollar, Celente

Gold is correcting/reacting to the small rise in the US dollar. Also, gold got up near the top of the two parallel lines that form a channel. Big deal. To be expected. Bull markets in gold and silver do not go straight up. Bull markets make higher highs and higher lows.

The head and shoulders formation of gold's over one year long deep correction say that gold is going to $1,300 at least, probably more for 2010. Do not be surprised if it is a lot more.

A recent interview of Gerald Celente; about one week old:

There is a competitive devaluation of most government fiat tokens going on out there around most of the world.

Both *fear* and *greed* are developing out there. These can do wonders to the price of gold and silver. And, do not worry about silver. It used to be about 16 times more plentiful than gold. Now it is about 5-6 times more rare than gold because of all the industrial uses over the decades that have been found for it, unlike gold. That and the fact that it is still real actual money is virtually unknown in the English speaking world for starters. Wait till the world wakes up to the reality of how 1.) rare silver is and that silver is 2.) actual real money. Unlike gold, silver is classified by some governments and industries as a "strategic metal".

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