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Eric Kelly

 
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  • Gold Will Keep Cruising as Currencies Come Under Pressure [View article]
    As I am writing this comment, Moody's has just downgraded Ireland to "junk" status. The Euro was crushed immediately and gold surged higher. This is exactly what I was trying to convey with "Just think, one more negative headline from Standard & Poor's about the U.S. debt rating could bounce gold 75$/ounce in a day."
    Jul 12, 2011. 03:51 PM | Likes Like |Link to Comment
  • Gold Will Keep Cruising as Currencies Come Under Pressure [View article]
    Thanks for the comment and the chart. If you look back to last year, there is a bottom in August 2010 after a similar consolidation period to what is happening now. Gold then proceeded to move up until December when it began to consolidate again. If you're a technical trader, you might find the similarities interesting between 2010's price action and what is happening this year. Take a look at the 150 day moving average on GLD, it should offer a great entry point for later this summer.

    Happy trading
    Jul 12, 2011. 03:43 PM | Likes Like |Link to Comment
  • Gold Will Keep Cruising as Currencies Come Under Pressure [View article]
    Gold can be considered a fiat currency. It's worth is based on human perception, and its industrial use is trivial because it can be replaced with other substances easily. Gold moves like a fiat currency.
    Jul 12, 2011. 03:34 PM | Likes Like |Link to Comment
  • Gold Will Keep Cruising as Currencies Come Under Pressure [View article]
    Read your article, thanks it helps shed more light on subject for me. Quite honestly I really don't understand gold miners. The way I view gold is as a currency, not a commodity.
    Jul 12, 2011. 03:31 PM | Likes Like |Link to Comment
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