Safely Buy Gold

Has Gold Finally Broken Out?

Without the dollar falling, IMO, the gold price rise is more traders doing what they do best. Banks are still failing but that doesn't seem to be a huge factor on the dollar at present. Treasuries are holding steady. Stock market isn't collapsing. CPI is falling (yes I realize this isn't an indicator of inflation). And as you point out, the dollar index is holding steady in the 78 range. Until that breaks down, I'd view the current rise as just the boys playing with the yellow metal.

I always keep in mind that gold "should" be priced higher based on all that has transpired and especially with increasing current deficit projections (let alone Fannie, Freddie, ING etc. needing more than expected).

Of course I believe in the medium term dollar decline pattern to continue and gold pattern to end with its 9th straight calendar year rise in price, but this current run is rather suspicious.

The dollar index breaking below 72 will be the tipping point.

On Sep 04 12:16 PM Nidhi Kadalbal wrote:

> Is it just seasonality or is there something more to drive the gold
> up? Though the technical indicators are pointing a breakout, there
> are bearish influences on gold too - like India's gold import falling
> .. and dollar index is finding support at 78.
>
> www.thepreparedinvesto...

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dlaw said;

"Gold is going down. The federal government is doing all it can to inflate, but gold is going down."

Gold is not going down. It's been going up for 8 straight calendar years.