Gold's potential high through 2006

Discussion in 'Technical Analysis' started by johnpinochet, Nov 25, 2006.

  1. I was doing some analysis of gold (not my usual market) and I noticed that back in May 2006, when gold hit its high, the dollar also hit its low. Looking at the US Dollar index, the low was just below 84.

    Now, flash forward to 24 November 2006 and we see that gold is easily 100 USD off of its May high, BUT the US Dollar index has broken decisively below its May low.

    My conclusion is that we will continue higher in gold to approach the May high.

    Any comments from those who follow Gold?
  2. bluud


    I hope you are right, I have 200K$ worth of Gold which I had bought at around 650$, I see it at, at least 700$ by the end of this year
  3. likely we try and get to previous highs and with enough time eventually take 'em out.