This bull market is now building up some momentum. It is building up to that US$100 intraday RISE. Everyone is buying gold now — China, central banks, India.
India cut its import duty on gold from 15% to 6% this month, so gold in India just became a lot cheaper.
Gold stocks have broken their 13-year downtrend and are making new 28-month highs. They should begin to really accelerate now.
Despite all the commentators talking about a weakening US$ I have yet to see anything constructively bullish in the major currencies.
- The Euro is still lower than a year ago.
- The yen is falling again.
- The pound is trying but should roll over this week (who would even want to go there now?)
- Swiss franc has peaked
- Chinese Yuan made a 15-month low.
Gold is the new real currency after the US$ (and AU$, of course!).
This looks ready to surge.
It keeps going higher and higher.
US$2,800 here we come.
As for silver, it is about to surge.
Head the markets, not the commentators.
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