I'm a fan of measured moves but not of Elliott, yet I use a hybrid Elliott method at times. Strange contradictions, thus is the market past, present and future.
wall street is in denial about the move in gold since I believe it counters what they had told their clients about inflation......... the current bubble is treasury paper and if (when) that pops, it aint gonna be pretty... this move smells like 1980 only this time the middle up wave may be beyond what we now conceive as possible...
Saudi's are starting to "diversify" out of U.S. dollars. That means their peg will fall, next. After that, the rest of the gulf states.
the street peg has already fallen with black market prices 15% below the bank rate.... Kuwait already floats their currency
another "expert or experts" have raised the bar ( so to speak) saw this bullet point on the website of the BullionDesk today -Metals Forecast 2008 - GOLD - Range $840 - $1250 Average - $976-