if there is worry about all this gov’t support creating tomorrow’s inflation, then gold is a fair measure. i don’t think it will move too much till some evidence of more global economic stability; can also watch the euro vs the dollar for that. the dollar has been a safety trade away from other currencies. if sentiment becomes less concerned then the dollar gets sold and the other currencies move up. as the dollar declines gold will rise. but it doesn’t matter what i think, the technicals are almost always right and well ahead of the fundamentals.
GLD at 80.60 sunday nite
weekly – has triggered a buy at 79.83 to 91.44. the 64.56 target is still active.
daily – next target 83.43. a trade thru 75.95 will restart the down trade. pressures extended up, so a pull back can be expected.